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capital Gain Sec. 54

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(Querist)
08 May 2011 Hello Everybody
Can investment U/s 54 can be made in two house properties to get the exemption under this section?
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CA. Krishna K Neeraj

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CA. Krishna K Neeraj (Expert)
09 May 2011 Exemption U/s 54 is available if investment is made in a residential house
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CA Rohit Tiwari

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CA Rohit Tiwari (Querist)
11 May 2011 Sir can two residential houses can be purchased from the amount of Capital Gain to get the exemption U/s 54.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
15 May 2011 If more than one house is purchased,Can claim deduction in respect of one house only provided other conditions in section 54 is satisfied.
Citation:- K.C.KAUSHIK Vs. ITO (1990) 185 ITR 499(MUM).
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