I am filling ITR-2 for the first time. In the schdule of balance sheet, in asset section, in which sr no should I fill the principle accumulated in Employee Provident Fund? Thanks in advance.
Shrikant Bhat (Dy Gen manager) (23 Points)
19 June 2017I am filling ITR-2 for the first time. In the schdule of balance sheet, in asset section, in which sr no should I fill the principle accumulated in Employee Provident Fund? Thanks in advance.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160322 Points)
Replied 19 June 2017
There is no Balancesheet requirement in ITR2. And no need to file ITR 3 if you do not have business income (wher Balancesheet schedule is there)
Shrikant Bhat
(Dy Gen manager)
(23 Points)
Replied 19 June 2017
For Individuals having Income > 50 lakhs, it is mandatory to fill schedule AL. In which all moveable and immoveable assets need to be declared.
In this there are following options available at (iv) of Section B (Moveable Asset)
a) Bank (including all deposit)
b) Shares and Securities
c) Insurance Policies
d) Loans and Advances given
e) Cash in Hand
So Principle balance in Employee Provident Fund (EPF) shall be filled either in (a) or (b).
I am confused in which serial should I fill? Or it is not required to be declared?
Thanks in advance.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160322 Points)
Replied 19 June 2017
Fo Schedule AL (& not Schedule BS), you can declare it under " b) Shares and Securities."
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