Income tax

Is it Agricultural land or Non-Agri.

non agricultural land. It is open land for ready to  construct buildings with all permissions.

So he got capital gain as mentioned below also that is Lont Term So he can do following things :-

1) He can take exemption under Section 54EC by purcahsign Certain bons of NHAI or REC through making investment in 6 months from the date of transfer. Also he took exemption as lower of capital gain or amount invested.

2) He can take exemption u/s 54F,  by purchasing a residential house within 1 year before date of transfer 2 year after and within 3 year in case of construction. Amount invested if equal to capital gain entire amt other wise proportion will be exempted.

Kindly check other provisions also.

the only method left is purchase or construct a residential house as your cap 4.50 aprox

if he could consrtuct a house in 3 year or purchse in 2 year which purchase price should be near to 4.50 cr then only he can save his tax 

otherwaiswe tax implication ll be = more than 95lakh