Budget 2018 has proposed to increase holding period of bonds un der section 54EC from three years to five years. In addition to that, the budget has also proposed to restrict the definition of capital asset to only land and building under the said section.
Currently, as per section 54EC of the Income-tax Act, exemption from long-term capital gains tax are available if the gains are invested in the specified asset of the section within six month of the date of sale.
