LTCG application on reinvestment of residential Land sale

aalokfirst (Management Consultant ) (29 Points)

11 August 2019  

We had sold a residential plot which was registered in my father's name last year after 30 years of its purchase. 

In a span of 1 month we had reinvested the entire proceeds from the sale in purchase of a residential flat in which we are living now. The property was registered both in my and my father's name. 

Is it required to pay any LTCG or tax by my father or me. My father is a senior citizen.