03 January 2011
I have two residential houses. I am selling both ONE BY ONE in the same Financial Year and buying two new residential houses one by one in the same F.Y.. Whether benefit of Section 54 in this case is available for both houses ?
03 January 2011
yes it would be available for both the houses. i think confusion is due to the word "a residential house" in the section. It only means it should be a residential house. it is not for counting. so deduction would be available for both
CAclubindia
