LTCG

Hi

For calculating LTCG which was the base year for indexing

1. year of possession or year of Ist / major part of Improvement

detail of case:

1.  A person who sold his house for Rs 70lcs and invested 50 lacs in bonds u/s 54EC.
2. He had paid the  amount in installments from F Y 1987-1988 (major Portion ie Rs 2,40,100) balance paid in further  installments up to 2002
3. he got the posssession of house in F Y 1992-93
4. please help me in indexing,  LTCG and Tax payable by him

Thanks