Exemption section 54 can be taken for two flats

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