tax planning : :"House property capital gain"

In india there is a chance to a certain amount of tax planning in case of house property in india.

It is such that there is a concept of indexation keeping in mind the devaluation of money. The indexation started from 1981 . The first indecation was set at 100 and the indexation of every year is provided by the government taking in consideration the time value of money.
so anything that was worth 100 in 1981 would be around 644 in 2009.

Now for the tax planning part
supposed a house was brought in 1951 for 10000 and in current year it was sold for around 1 crore 40 lakh in this case.
we will revalue the sold property with effect from back date to such a value that after calcuklation effect with respect to indexation there is no capital gain at all in 2011.

WHAT IS TAX PLANNING

TAX IS IMPOSED BY GOVERNMENT AND IS PERVASIVE IN OUR LIFE AT EVERY STAGE AND ACTIVITY.
HOWEVER GOVERNMENT HAS ALSO PROVIDED US WAYS THROUGH WHICH WE CAN SAVE OUR TAXES.
FOR EXAMPLE : WE SHOULD BE CAREFUL IN BUYING MORE THAN ONE HOUSE AS IF WE HAVE MORE THAN 1 HOUSE OUR TAX LIABLITY INCREASES.

AS GOVERNMENT GIVES US OPTION THAT WE CAN KEEP ONE HOUSE AS SELF OCCUPIED WHEREAS THE OTHER HOUSE IS TAXED AS PER THE STANDARD RENT OR PREVALENT RENT IN THAT AREA.

WE SHOULD BE CAREFUL IN SELECTING THE HOUSE THAT WE WANT TO KEEP FOR SELF OCCUPIED.
IN THIS CASE FOR EXAMPLE IF WE HAVE MORE THAN 1 HOUSE AND THE RENT OF THE HOUSE IS 30000 PER MONTH IN THAT AREA THEN OUR YEARLY INCOME BY 360000 LESS 30% ,I.E 252000.