Income tax on nri : sale of flat /property

I have heard if a NRI can sell  Flat/apartment/property after 3 years ,

• there is capital gain tax @ 22.66% if he wishes to reinvests the amount back  and
• TDS u/s 195 on property sale consideration value @ 20.66% .

1. can he apply for tax excemption certificate?
2. Where  can he reinvest the capital gain ..in Mutual fund or property or stocks  ?