Yes. He will not be liable to pay tax on long term capital gains upto the unexhausted basic exemption limit. If he has any other income, the basic exmeption limit will be utilised for such other income first and then the unexhausted part will be utilised for long term capital gains.

Please quote me the section

Refer Secton 112.

SECTION 112. (1) Where the total income of an assessee includes any income, arising from the transfer of a long-term capital asset, which is chargeable under the head "Capital gains", the tax payable by the assessee on the total income shall be the aggregate of,-

          (a)  in the case of an individual or a Hindu undivided family, [being a resident,]-

       (i)  the amount of income-tax payable on the total income as reduced by the amount of such long-term capital gains, had the total income as so reduced been his total income ; and

      (ii)  the amount of income-tax calculated on such long-term capital gains at the rate of twenty per cent :

                Provided that where the total income as reduced by such long-term capital gains is below the maximum amount which is not chargeable to income-tax, then, such long-term capital gains shall be reduced by the amount by which the total income as so reduced falls short of the maximum amount which is not chargeable to income-tax and the tax on the balance of such long-term capital gains shall be computed at the rate of twenty per cent ;