(5)If the capital gains under sub-section (1) does not exceed two crore rupees, the assessee may, at his option, purchase or construct two residential houses in India, and where such option has been exercised,—(a)for the purposes of sub-section (1)(b), "one residential house in India" shall be read as "two residential houses in India"; and(b)for the purposes of sub-sections (1)(b) and (2), "new asset" shall mean two residential houses in India.
