Tax on sale of Inherited Property

Hello, My father inherited a house in Kolkata, which he had sold approximately 27 years back and the property got promoted. He got a flat in exchange and some money which he kept in an FD. My father passed away in 2021 and my mother passed in 2023. The mutation of the property to our names happened in October 2023 directly from my father. Now that both of my parents have passed, me and my brother have decided to sell off this flat in the near future. So I wanted your guidance about taxes, capital gains tax, etc. The funds from the sale of the flat will be divided between me and my brother. I personally don't want to invest in any capital gains schemes or currently plan to buy another property and instead would like to invest the money in mutual funds, which will act as my retirement corpus. So my first question is how will I be taxed on the proceeds of the sale? Will it be STCG or LTCG and what percentage? I heard that indexation for LTCG has been reinstated but there are two options for LTCG now. Secondly, if I decide to buy a property with the funds from the sale and not to invest in mutual funds, is it absolutely necessary to deposit the funds in a capital gains account or I can receive the funds in my savings account and proceed to buy a flat from there? If I can receive the funds in my savings account, for how long can I keep it there before buying a property? Also, what all documents will be needed for computation of tax from the sale of this property that I should collect and keep. I have another question regarding the funds from FD which is a little different, so I would like to do it in my second consultation with you. Thanks, Gautam