54 f exemption on third house where second house is used for business purposes

u/s 54 F,

‘Provided that nothing contained in this sub-section shall apply where—

 (a)  the assessee,—

  (i)  owns more than one residential house, other than the new asset, on the date of transfer of the original asset; or

 (ii)  purchases any residential house, other than the new asset, within a period of one year after the date of transfer of the original asset; or

(iii)  constructs any residential house, other than the new asset, within a period of three years after the date of transfer of the original asset; and

 (b)  the income from such residential house, other than the one residential house owned on the date of transfer of the origi­nal asset, is chargeable under the head "Income from house property".’.

So, in your case section 54F will not apply