I have LTCG tax liability of Rs 16 lakh from land sale; should I pay income tax or reinvest to save?

ET Wealth Reader's Query: I am 57. I recently sold a piece of land near Jewar airport, resulting in a long-term capital gains (LTCG) tax liability of around Rs 16 lakh. I am considering two options: reinvesting the proceeds in another property of a similar value to claim the available tax exemption…