Capital gains tax

No more option available now, except constructing a house property by July 2019.

Thanks for the response, sir.

Can I buy a independent house (not apartment) that's already constructed and available for sale now?

Yes, correct.  No more option even for PURCHASE of any ready made house property, but any underconstruction property can be purchased which may get ready to occupy before July, 2019.

Does altering an existing house property count? Such as buying an old property and doing a major revamp. Does this revamp count as "under-construction"?

Thanks for the insights so far!

Does altering an existing house property count? Such as buying an old property and doing a major revamp. Does this revamp count as "under-construction"?

Also, can I use the parked LTCG funds for buying a *land* and then constructing?

Thanks for the insights so far!

Surely, provided old construction demolished completely.

Otherwise little difficult to convince at AO level; though some case-laws are in favour of assessee.

"Also, can I use the parked LTCG funds for buying a *land* and then constructing?"

Yes, but check that the amount of CG gets completely utilized in new construction before July 2019.

Excellent! Thanks for the insights, sir. 👌

Will further pursue it with an auditor to get this done.

Best Regards.