Pros and Cons of Revising Income Tax Return

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  1. Lingarajucs

    Lingarajucs New Member

    I have two house Loan, in my IT return for last two years I have declared my first house as a let out property and second house as self occupied (as I stay in this new house now), however I realized now that any house property can be declared as Let out irrespective of usage.

    Now, can I change this declaration and submit revised IT returns ? what are the Pros and Cons.
     
  2. Karan Batra

    Karan Batra Well-Known Member

    Yes, you can revise your Income Tax Return and there wont be any issue in that.

    Revising the Income Tax Return is allowed and there are no negatives attached in this case as the change which you intent to make in the income tax return is allowed as per the provisions of the income tax act.
     
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