Capital gain tax

Yes

Since property purchased before 2000... valuation report must as on 1/4/2000 for capital gains

You bought the property in 1999 and sold in 2026 →
✔ It attracts Long-Term Capital Gains Tax @ 20% with indexation
✔ Exemptions under Section 54 or 54EC can reduce or eliminate the tax.

Sir.

12 percent tax without indexation also available....may be more beneficial...check

Yes, It will be attract Long Term capital gain of Property.

Fair market value as on 2001

Yes. If the property is a capital asset, its sale in 2026 is generally taxable as a capital gain; the 1999 purchase date does not by itself exempt the gain. For land or a building held for more than 24 months, it is a long-term capital asset.

For a sale on or after 23 July 2024, the general rate for long-term capital gains on land/buildings is 12.5% without indexation. A resident individual or HUF selling land/building acquired before 23 July 2024 may compare this with the earlier 20% tax with indexation and pay the lower amount, subject to the applicable conditions. The computation also depends on purchase cost, improvement and transfer expenses, sale consideration and any exemption claimed.

A property sale file should therefore preserve the 1999 purchase records and evidence of improvement costs for the capital-gain computation. Manual tracing and reconciliation across old deeds, cost records and tax workings can be difficult; automation reduces repetitive work while professional judgment remains in control. At Jir AI, our 2,000+ AI agents and 650+ integrations streamline GST, ITR, TDS, TCS and other compliance workflows, helping reduce manual workload by up to 70%. Message us on WhatsApp to explore the workflow: https://wa.me/message/3HVOZ7HIY4ESC1