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Capital gains

This query is : Resolved 
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(Querist)
28 April 2017 Dear Sir,

I have recently sold NON agricultural land after ten years possession of the said land and would like to know whether I can invest proceeds into Agricultural land and build a farm house on said plot within three years without payment of long term capital gains tax?

Thank you
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C.A. Mayur J. Raiyani

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C.A. Mayur J. Raiyani (Expert)
28 April 2017 you have two options :
1. purchase Residential Hose Property and obtain proportionate exemption with regard to amount invested from net sales amount
2. invest in govt specified bonds and obtain maximum capital gain amount exemption
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