Tax planning on sale of gifted jewlery

By purchase of residential house property, subject to some conditions and/or investment in capital gains bonds, upto 50 lakhs.

can we invest it in agricultural land or commercial land to avoid payment of capital gain tax? and cant we claim it as personal effects to exempt capital gain tax on sale of jewlery ?

can we invest it in agricultural land or commercial land to avoid payment of capital gain tax?

Ans.No you can not invest the amount of gain which is received by sale of jewellery in agriculutre land 

and cant we claim it as personal effects to exempt capital gain tax on sale of jewlery ?  

Ans.No it is not exempted.It is taxable.