Abhi
assuming the lady's age is below 60yrs and AY 2012-13
By using this formula= {LTCG- [1,90,000-(4,26,000-2,50,000)]}
= Rs 2,36,000
Because this amount is lower than Rs2,50,000 (LTCG)
Therefore it is taxable @ 20% and the tax payable on Rs.2,36,000 @ 20% = Rs47200+cess @ 3%
Suppose there is no deduction U/s 80C of Rs 25000, then the amount so calculated above will be Rs 2,61,000
So here tax liablity will be
on LTCG 2,50,000 @ 20% and balance Rs 11,000 @ 10%
total tax liabilty will be Rs 51,100+cess @ 3%