Section 3 - Amendment of Section 2 - Finance Act, 1973

CHAPTER III DIRECT TAXES Income-tax 3. Amendment of Section 2 In section 2 of the Income-tax Act, - (a) in clause (37A), in sub-clause (ii), after the figures and letter 194B , the figures and letter , 194D shall be inserted; (b) in clause (42A), for the portion beginning with the words short-term capital asset means a capital asset and ending with the words notwithstanding that such capital asset has been held by the assessee for not more than twenty-four months immediately preceding the date of its transfer. , the following shall be substituted with effect from the 1st day of April, 1974, namely :- short-term capital asset means a capital asset held by an assessee for not more than sixty month immediately preceding the date of its transfer. .