Sale of land and purchase

One is required to purchase another plot within 2 years after the sale of a plot to avail exemption u/s 54F.

Yes u/s-54B, provided the land sold has been used for agricultural purpose for 2 years preceeding the date of transfer & the new land has also been purchased for agricultural purpose within a period of 2 years from date of transfer. If the land sold is not an agricultural land & also sold after 36 months then u can claim exemption u/s-54EC by making investments, subject to Rs.50 lakhs in any F.Y., in NHAI or RECL bonds within 6 months from date of transfer & u/s-54F by purchasing a house 1 year before or within two years after date of transfer or consturcting a house within 3 years after date of transfer.