When CA final Nov 2014 result will be announced.

Dear sir/ madam,

My father is a senior citizen.

He received a capital gain of Rs 60,00,000 from sale of residential house.

He is a senior citizen. And, his income from all sources is zero.

Will income tax deduction slab of Rs 3,00,000 be applicable for capital gain tax calculation?

For eg capital gain: 60,00,000 - 3,00,000 = 57,00,000.
Is this calculation applicable for capital gain calculation.

All experts are requested to help.
Regards

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