# The Finance Act, 1973, Section 3: Amendment of section 2

- Act: The Finance Act, 1973 (Act 21 of 1973)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1973/section/3/

## Text

CHAPTER II DIRECT TAXES Income-tax Amendment of section 2 3. 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 months immediately preceding the date of its transfer.'. [Finance Act, 1973] © Copyright. Taxmann Publications Pvt. Ltd.

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