Capital gains on selling two properties to buy one property

You can sell 2 properties in the same period and buy one as long as ltcg doesn’t exceed 2 crores. 

It's pertinent to note that Sale of Land or Building will not attract the TCS provision as both are immovable properties. Hence Real Estate transactions is out of ambit of TCS

tds will be deposited by the purchaser

1. About capital gains of sale of two flats. Whether we should sell  (registry of the sale seed) both the flats in same financial year or one in one financial year (FY 2023-24) and another in next financial (FY 2024-25) to save LTCG for purchasing one new flat in the FY 2024-25? ----- You can buy like that. Need not be in same year. Open CGAS account and deposit capital gains there. 

2. Can I carry forward TDS on sale of any property to next year if 50 % consideration I get in this FY 23-24 and remaining 50% in the next FY 24-25. Registry will be done in the FY 24-25. ---- No. TDS needs to be paid when you receive the money. Pay 50% tds on first installment and remaining on second.  But buyer will pay it. 

2. How can I show 50 % money I got in current FY 2023-24 in ITR? --  If one flat is sold, show that capital gain here in 23 24. 

Section 54 applies separately to each residential property sale, so you have two independent exemption claims. Both long-term gains can be offset against the cost of the new property, as long as the purchase price covers both gains. The two-year purchase or three-year construction deadline applies to each sale independently.

 If reinvestment cannot happen before July 31, deposit the unused gains in a Capital Gains Account Scheme before filing to preserve the exemption. The [house property income and Schedule HP guide for AY 2026-27](https://taxgarden.in/blog/income-from-house-property-itr-schedule-hp-ay-2026-27) also covers the ITR reporting for property transactions.