Long Term Capital Gain Tax applicable for SRA Flat

This discussion addresses the calculation of Long Term Capital Gains Tax (LTCG) for an SRA (Slum Rehabilitation Authority) flat purchased in the 1990s and redeveloped in 2005. The key question is whether the cost basis for tax purposes should be the inflation-adjusted ready reckoner rate from 2001 or if the entire sale amount will be considered profit. The consensus leans towards using the fair market value as of 01.04.2001, subject to conditions, and applying the indexed cost of acquisition.