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Exemption u/s.54

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(Querist)
02 March 2013 To qualify for the exemption claim U/s.54 is there any restriction on holding of certain number of residential property/ies? I mean, can a person holding more than 1 (say 4) residential properties claim exemption U/s.54?

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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
02 March 2013 A person holding more than one residential property can claim section 54 at the time of selling any one among them.
The restriction of holding more than one house at the time of selling another house is in section 54F.
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