New Delhi, July 3 -- Q. I am an NRI. I sold my agricultural land at Pune in November 2023. After consulting my CA., I deposited the indexed capital gain amount in a Capital Gains Account with a nationalised bank as per Sec. 54B to purchase agricultural land within two years from date of sale. i.e. till November-2025. But as of today, I am not in position to purchase agricultural land. Is it possible to invest the entire capital gain amount in non-agriculture assets? Is it also possible to purchase agricultural land after November-2025 without having to pay the capital gain tax? Is there any other way for capital gain tax exemption?

If the individual or an HUF (Hindu Undivided Family) wishes to claim exemption for long term capital gains ...