Understanding tax liability on property sale

My paternal grandfather bought a residential plot in 1972 for 16 lakh in Delhi , He died in 1991 and the land was inherited by my father.

- Neeraj Agarwala

My father built a house on the land in 1995 and gifted the house (and land on which it is built) to me in 2011. I sold the house in September 2023 for 15.5 crore. I have purchased a residential flat in Bengaluru this month for ₹3.5 crore. This is my first house purchase (barring the one I was gifted by my father).

What is my capital gain tax liability? Can I get tax benefit under section 54F? -Manuja Sindhu

The proceeds from the sale of your residential house in Delhi for 5.5 crore will be subject to taxation as long-term capital gains at a rate of 20%, with the benefit of indexation.