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of <h1>Finance Bill 2017 amends section 2(42A) to redefine holding period for mutual fund units from consolidating plans.</h1> The Finance Bill, 2017 proposes an amendment to section 2, specifically clause (42A), concerning the definition of 'short-term capital asset.' The amendment aims to include a new clause (hg) to clarify that for capital assets, particularly units in a mutual fund scheme acquired through a transfer outlined in section 47(xix), the holding period should include the duration for which the units in the consolidating plan were held by the assessee. This change is effective from the assessment year 2018-19, as part of the Budget 2017-18.
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