As per finance act 2017, holding period in case of land and building is reduced from 3yrs to 2yrs.
How does it effect Sec 54,54B,54D?
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Sec 54
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Section 2 (42A) of the Act has been amended with effect from assessment year 2018-19 so as to reduce the period of holding from the existing 36 months to 24 months in case of immovable property, being land or building or both, to qualify as long term capital asset.
No effect or amendment in other sections like Sec.54, 54F, 54B etc......
Refer: https://www.tax mann.com/Budget-2016-17/budget/t81/amendments-related-to-capital-gains.aspx
it won't have much effect on capital gain exemption sections. since the holding period is reduced from 3 to 2 years, instead of fixed rate @ 20% it'll be charged @ maximum marginal rate for the properties whose holding period more than 2 years
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