Sir,
Me and and my mother jointly inherited a commercial property (plot with boundary wall and Tin shed) from my father after his death in the year 1982. This commercial plot was sold in May 2019 in two equal parts (i.e. TWO separate sale deeds were executed by us ) on SAME DATE , to the same purchasers. The total capital gain for both of us ,from sale of 2 equal parts ,of the single comnercial plot, works out to be around 18 lacs.
I want to know whether we both can invest in Long term capital gain bonds, like REC OR NHAI, available under section 54 EC , as we have sold the plot in 2 equal parts on same date.IN general, Can the EXEMPTION under section 54 EC be availed if someone sells 2 commercial properties in one financial year and the total capital gain is under 50 lacs for each seller ?