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Exemption u/s 54

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Querist : Anonymous

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Querist : Anonymous (Querist)
04 August 2010 Can we claim exemption u/s 54 in respect of purchase of 2 house property at same time? Please clarify with practical view.
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CMA Arif Farooqui

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CMA Arif Farooqui (Expert)
10 August 2010 yes u can.
suppose u purchase 2 residential house from capital gain, then capital gain or amount inverted in new house(s) which ever is less is exempt.

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