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Exemption u/s 54 for residential house property

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Querist : Anonymous

Querist : Anonymous (Querist)

31 January 2011 Hi,can someone pls tell me that how many residential houses can be claimed as an exemption u/s 54 since the language of the act "a residential house" is not clear.

Also, if we buy two adjacent flats & convert them into one unit(but they are registered as 2 flats), can we take exemption of both flats as one unit irrespective of fact that exemption is available for one unit or more?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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31 January 2011 On factual matrix deduction is allowed in certain cases. One such case can be seen in
https://164.100.80.145:8080/dspace/bitstream/123456789/441273/2/ITA783-08-27-08-2010.pdf

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