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Revision of ITR ?

139 views 6 replies

SK

Nil

27 Points Joined January 2015

I filed my taxes return on 16 July 2018. I have a house property which is lying vacant. By mistake I entered the house as vacant while filling up tax return. My ITR 2 sent by the Dept shows the house as "Deemed to be let out". Can I revise my tax return now. Will revision attract scrutiny ? I have only one house property. I have not yet verified the ITR V. Please advise.

Replies (6)

rama krishnan

12244 Points Joined May 2017

only one house property? why it has not been occupied by you for self residence? please clarify these doubts so that taxability of vacant house could be determined. as such you can revise your return till 31/03/2019

SK

Nil

27 Points Joined January 2015

I am working at a different city than home town where the property is located. that is why it is vacant.

rama krishnan

12244 Points Joined May 2017

then its annual value to be taken as nil and there's no need to consider it as deemed to be let out

SK

Nil

27 Points Joined January 2015

Thank you. Should I revise my ITR now? Will it attract scrutiny ?

rama krishnan

12244 Points Joined May 2017

not necessary... submit the facts such as location of house property and place of your occupation and state that its annual value is nil in response to the notice received from department