Capital gain

If the sale proceeds of the plot sold is say Rs. 1 lakh (example), out of which you purchase flat for say 75K (75%); in that case 75% of your capital gains from the sale of plot is exempt u/s. 54F. Suppose you earned 60K as capital gains (after indexation) from the plot then you have to pay CG Tax on 25% of gains i.e. over 15K.

Investment in another plot has no exemption advantage.