https://www.taxtmi.com/highlights?id=62777 Deduction u/s 54 - LTCG invested in buying two residential units - the assessee would only entitle to the benefit of section 54, 1) if the assessee invested the LTCG amount for buying one residential house or 2) if the assessee purchased one residential house which was made after merger of two residential units already amalgamated and were in existence as one residential unit - However the assessee is not entitled to benefit of LTCG invested in buying two residential units and thereafter converting the said two residential units as one. - AT en-us Tue, 05 Apr 2022 09:20:16 +0530 Tue, 05 Apr 2022 09:20:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=62777 Deduction u/s 54 - LTCG invested in buying two residential units - the assessee would only entitle to the benefit of section 54, 1) if the assessee invested the LTCG amount for buying one residential house or 2) if the assessee purchased one residential house which was made after merger of two residential units already amalgamated and were in existence as one residential unit - However the assessee is not entitled to benefit of LTCG invested in buying two residential units and thereafter converting the said two residential units as one. - AT Highlights Income Tax Tue, 05 Apr 2022 09:20:16 +0530 https://www.taxtmi.com/highlights?id=62777