05 August 2013
I have sold 2 flats and again purchased 2 flats. New Flats value more than Capital Gain Amount. Can I claim Exemption U/s 54 on LTCG for 2 flats.
06 August 2013
Matter is not 2 flats it is 2 houses. If your two flats were joint or twin then it is to be treated as one house and if you have purchased again twin flats then it is one house. Therefore, exemption cannot be denied but to fight out your case you have to keep good and very good CA
CAclubindia
