Residential Long term capital gains used in purchasing two residential flats in different locations during Financial year 2012/13

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....esidential Long term capital gains used in purchasing two residential flats in different locations during Financial year 2012/13<br> Query (Issue) Started By: - Navin Thakkar Dated:- 21-10-2015 Last R....

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....eply Date:- 29-9-2016 Income Tax<br>Got 1 Reply<br>Income Tax<br>Are there any Case Laws on the Subjects? Are we eligible for deduction of costs of two properties from Long Term Capital Gains. u/s 54....

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.... of the Income Tax Act 1961? Reply By CA Surender Gupta: The Reply: The provisions of Section 54 as stood today allows exemption only for &quot;one residential house in India&quot;. However, prior t....

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....o Assessment year 2015-16, the exemption was available for &quot;a residential house&quot;. There are various case laws where exemption was allowed treating two joint property as single property and ....

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....so on. Therefore, a detailed analysis of the factual position would help you to solve this issue.<br> Discussion Forum - Knowledge Sharing ....