we can take exemption section U/s 54 for two flats,
1 Replies
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
Recent Topics
- NRO Interest - Taxed at source and in Foreign Coun
- Clarity needed on effective date
- Income Tax Refund Deadline Shortened to Five Years
- Rectification Applications for Past GST Demands
- Where can I find a trusted provider to hire a skip
- GST Invoices Series
- FILING OF ITR AY 20-21
- CLAIMING OF U CLAIMED RCM
- Building construction works
- REGARDING GSTR-9 F.Y 2023-24
Related Threads
CAclubindia
