House Property purchased from lanlord in the year 1986 (Old Pagdi System) In the year 1998 on account of redevelopment assessee became owner from tenant.
Now in November 2009 assessee sold the said property for 15 lacs what about capital gains tax.
Cost of the property is nil as it was purchased from landlord in the year 1986 by just transfering rent receipt in assessee's name.
1) Can assessee get benefit by investing in other residential house property or by investing in capital gain tax bonds?
2) Can assessee get benefit of indexation what about the cost of the property?
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