LTCG and Tax implications

You have to show in next assignment year about the LTCG with proper details
yes you can deposit it Bank or if you want can invest it in others things depends upon you

As you have no intention of investing the LTCG in a new house property. So, other options is you can save tax by investing Capital Gain in Notified capital Gain Bond u/s 54EC within a Six months from date of trasfer of property.

If you don't want to take any benifit (invest in bond, house ) than you have to pay tax on Capital Gain. Liability to pay tax will not arise immediately. You have to consider you Capital Gain in your income tax return of F.Y 2020-21 and pay tax accordingly. (You have to pay advance tax before 31.03.2021 on estimated income, otherwise interest will levied on tax)

As if you don't want to make any investment to take Exemption, than there is no requirement like Deposit in seprate bank account.

Thanks for the clear clarification.

Most welcome............