Capital asset Short term or long term - period of holding in case of a unit or units, the period for which the the unit or units in the consolidating plan of the mutual fund scheme were held by the assessee in a Certain Case - Budget 2017-18 w.e.f. AY 2018-19
2 February, 2017
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Short-term capital asset definition expanded to include prior holding period of units in a consolidating mutual fund plan. The amendment expands the definition of short-term capital asset by providing that where units become the assessee's property in consideration of a ... Summary
Short-term capital asset definition expanded to include prior holding period of units in a consolidating mutual fund plan.
The amendment expands the definition of short-term capital asset by providing that where units become the assessee's property in consideration of a specified transfer, the period for which those units were held by the assessee in the consolidating mutual fund plan shall be included in computing the holding period for determining short-term or long-term status.
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