Your tax liability has been rightly calculated by Mr Varun Mahajan. I would like to add below:
1. All expenses incurred directly in connection with sale of Property are to be treated as transfer expenses and to be reduced from Sales Consideration to arrive at Net Sales Consideration.
2. All expenses/costs incurred in connection with purchase of property and/or toward improvement of property are cost and is to be treated as part of cost and indexed accordingly on the basis of their actual date of payments.
3. You are entitled to first set off your thresh hold limit against LTCG and pay flat 20% on balance LTCG for example if LTCG is 2.50 Lac or Less and there is no other Income no tax would be payable. If LTCG is 3.00 Lac during current FY and No other income, Tax would be 20% of (3.00-2.50)=10000.00
4. Please further note that Deductions under chapter VIA are also not available from LTCG provided you do not have sufficient other income to claim deductions.