Capital gains on sale of property

Further details viz. cost of acquisition, date of acquisition, date of sale etc. is required for answering the query. 

1. whether any capital gains tax has to be paid for the sale of property ?   YES

2. and if so what will be the calculation amount. More details required, such as date of acquisition, Cost of acquisition, cost of improvements made etc. BETTER CONSULT A LOCAL TAX CONSULTANT, WITH THE DOCUMENTS.

3.If he gifts this amount to his daughters can he avoid paying capital gains tax ? No.

Probably he could have gifted the property to his daughters who in turn  could have sold the property, in which case the tax liability would have been considerably less This view is  subject to verification with facts and figures. 

in order to  reduce capital tax liability  he should purchase   Rural Develoment   Bond or specified Infrastructure Bonds  in his own name along with his daughter in three parts and can gift them to his daughters and amount will be received by them on MATURITY ..  These bonds are for Three Years. the entire capital gain will be exemptedi

The tax saving bonds mentioned by Adv. Vallabh Parmar need be for the indexed capital gain portion only. The rest of the amount can be disposed of by him as he likes.