Schedule al in itr 2
This query is : Resolved
07 July 2016
I have 2 queries with respect to schedule AL in ITR 2
1) Does 'Cash in Hand' include saving bank balance and FD?
2) Does 'Building' include residential house property and the house property that has been let out for more than 300 days in the year? For wealth tax, this was not included in the definition of wealth. Since AL is replacing the wealth tax return, hence the question.
1) Does 'Cash in Hand' include saving bank balance and FD?
2) Does 'Building' include residential house property and the house property that has been let out for more than 300 days in the year? For wealth tax, this was not included in the definition of wealth. Since AL is replacing the wealth tax return, hence the question.
07 July 2016
01. No cash in hand does NOT include savings bank balance and FD
02. Building include BOTH. (No relevance of 300 days as is in Wealth Tax Act.....the position as on 31/03/20xx is to be given)
02. Building include BOTH. (No relevance of 300 days as is in Wealth Tax Act.....the position as on 31/03/20xx is to be given)
07 July 2016
Thanks Amol for the clarification.
Is there any written guidance available on this position? Was searching for it, but could get none. Thanks
Is there any written guidance available on this position? Was searching for it, but could get none. Thanks
08 July 2016
clarifications are given for ambiguity if any....Here there is no any ambiguity, so no notification etc...... you can refer the FAQ or the general information given in the ITR
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