We had old residential property and purchased new residential property . I would like to know whether we can hold one or more residential property at the time of transfer of one residential property to claim exemption under section 54 of capital gains income tax act. any reference of case laws regarding this would be extremely helpful.
Secondly kindly elaborate what is the meaning of income derived from house property. IS this condition mandatory for claiming exemption under section 54 as my old property was not leased and was self occupied .
CAclubindia
