Cost of acquisition query regards house

There will be two cost of acquisition viz cost of acquisition of the land and cost of acquisition of the building. Allotment is a right to own and possess the property. But when you have already in possession at the time of sale, then the date of possession shall be taken and not the date of right to possess.

Sale consideration: value as on 2012

Less Indexed cost of acquisition of land - 2004

Less Indexed cost of acquisition of building - 2006

Less cost of improvement if any

Less Expenses for transfer

Total long term capital gain

Capital gain @ 20.36%

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Cost of land will be indexed from 1998 and not 2004  as the right to possess means transfer as per income tax act.