Income tax on Ancestral property sold after 23 June 2024

Dileep (Accountant) (83 Points)

19 October 2024  

In case of sell of the Ancestral property after 23 June 2024, What will be considered as cost price ?

 

If on date of sale I have only 1 residential house & after sale of the Ancestral property whether 2 flats can be purchased of Rs 3 Crores each [ Total purchase price Rs 6 Crore ] using section 54F (Since maximum exemption under this Section has been limited up to Rs. 10 crores from FY 2024-2025)