Change in period of Holding in case of Immovable property :

CLAUSE(S) OF FINANCE BILL, 2017	PARTICUL ARS OF AMENDME NTS	SECTION	AMENDMENT / NEWLY INSERTED	APPLICABLE W.E.F.	BRIEF OF AMENDMENT
3	Change in period of Holding in case of Immovable property	3rd Proviso to clause 42A of Section 2	Amendment	1/4/2018	Period of holding has been reduced from 36 months to 24 months for calculation of LTCG in case of Immovable property being land or building or both. (Author’s note – Proviso talks about only for Immovable property being land or building or both, however it doesn’t mention property purchased under Builder buyer agreement (Rights in immovable property).