Income from house property

Calculate Cost inflation index of 25 lacs and calculate tax.

if you are planning to buy new house than it may exempt based on provision of section 54.

Long term capital asset means a capital asset held by an assessee for more than 36 months immediately preceding the date of its transfer.Thus in your case, there will be short term capital gain (Rs. 30-Rs. 25), income tax will be charged as per slab rate.

From FY 2017-18, in case of immovable property being land, building or house property, if they are held for more than 24 months, they are termed as long term capital assets i.e. any immovable property will attract long term capital gains tax, if sold after holding for 24 months or more from April 1st, 2017