Way of tax benifit - ltcg arises due to sale of vacant land

Hello Nirmalya, You have not specified if the land sold was agricultural land situated in any urban area. So Assuming that it is not an agricultural land i suggest following tax planning- Firstly, you cannot deposit the amount in any Capital Gains Deposit A/c Scheme as this facility is available only for sections-54,54B,54D,54F,54G. And none of these sections are applicable in your case. The only possible exemption you can claim is by investing within 6months from date of such sale of the land in specified bonds of NHAI or RECL u/s 54EC of the act. It should be noted that you should not transfer or otherwise convert or take loan on security of these bonds within 3years from the date of investing into such bonds otherwise the capital gains exempted earlier will be deemed to be Income by way of LTCG of the previous year in which you transfer the bonds or take a loan on security of such bonds. Regards.