we can take exemption section U/s 54 for two flats,
veeru sagar
(BBE,M.com,CA Final )
(468 Points)
Replied 07 June 2013
DEAR SUDHARM
YES u/s 54 capital gains arising from the transfer of residential house property
examption is not limited to aquisition of one house property :-since the expression aquisition of one residential house . in the opinion of mr v.k singhania "a residential house in the sec 54 would mean "any"residential house.
"A"is synonymous with "any"
The article"a"is not necessarily a singular term. it is often used in the senseof nay ,and when so used it may be applied to more than one individual object
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