Mr. R acquired a residential house on 1st September 1998 for Rs. 1,00,000. During the year 1999-2000, he spent Rs. 40,000 for the improvement of this property. During the year 2004-2005, he spent further amount of Rs. 50,000 on the improvement of the house. Mr. R gifted the said property to his son Mr. S on 12th October 2010. Mr. S spent the following amounts for the improvement of the property as below -

15.7.2015 - Rs. 50,000

15.6.2017 - Rs. 40,000

Mr. S sold the said property on 20th February 2020 for the amount of Rs. 10,00,000. He paid the brokerage of 2% of the consideration to the broker. Assuming the fair market value as on 1.4.2001 to be Rs. 3,00,000, calculate the capital gains for the Assessment Year 2020-2021.