The Income Tax Act exempts the capital gains from the sale of a house if the taxpayer invests the gains in a residential property within two years from the date of sale or constructs another house within three years from the date of sale. This means, you cannot invest in a commercial property or land to save tax - you have to necessarily buy residential property only. If the property is under construction, the two-year period is further enhanced to three years. However, you should not own more than one house, besides the house you are investing in.
moreover you need not to pay tax now