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Sale Rural agricultural land

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(Querist)
19 December 2023 I am selling my rural agricultural land for 50 lakhs.
1) Can I deposit the amount as Fixed deposit in my bank account?
2) Is there any tax Implications?
3) Should I buy another agricultural land or residential property to avoid Capital gains?Note:-Sold propery is Rural agricultural land
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
19 December 2023 1 Yes.
2 No, rural agricultural land is exempt from tax.
3 No capital gains tax.

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