LTCG on property sale

This discussion explores Long Term Capital Gains (LTCG) tax on a property purchased in 1991 for ₹1.5 lacs in Kollam, Kerala. The key question is determining a sale price that avoids LTCG. It's suggested that a sale consideration of ₹433,500 or less might not attract LTCG. To calculate the indexed cost of acquisition, one should consider the higher of the purchase cost or the fair market value as of 01/04/2001.