Schedule AL of ITR- 2 in case of NRI .
This query is : Resolved
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29 December 2023
Sir,
If total income exceeds Rs 50 Lakhs,, it is mandatory to disclose the details of moveable and immovable assets in AL Schedule of ITR-2 along with liabilities incurred in relation to such assets. Hence following queries :-
1. Is this schedule refers to only those assets and liabilities which are located /existing/situated in India and is mandatory to disclose , if income exceeds threshold limit of RS 50 Lakhs ,irrespective of residential status of an individual ?
2. Is schedule AL of ITR 2 is mandatory for individual NRI, to disclose his Indian Assets and Liabilities even if his total income is below threshold limit of Rs 50 Lakhs ?
3 Is Total Income limit of Rs 50 Lakhs , is only applicability condition of this schedule AL .irrespective of residential status of an individual .
Pls guide urgent.
If total income exceeds Rs 50 Lakhs,, it is mandatory to disclose the details of moveable and immovable assets in AL Schedule of ITR-2 along with liabilities incurred in relation to such assets. Hence following queries :-
1. Is this schedule refers to only those assets and liabilities which are located /existing/situated in India and is mandatory to disclose , if income exceeds threshold limit of RS 50 Lakhs ,irrespective of residential status of an individual ?
2. Is schedule AL of ITR 2 is mandatory for individual NRI, to disclose his Indian Assets and Liabilities even if his total income is below threshold limit of Rs 50 Lakhs ?
3 Is Total Income limit of Rs 50 Lakhs , is only applicability condition of this schedule AL .irrespective of residential status of an individual .
Pls guide urgent.
30 December 2023
1 Resident assessee to disclose global assets including in India.
Non resident assessee not required to disclose assets outside India.
2 No.
3 yes.
Non resident assessee not required to disclose assets outside India.
2 No.
3 yes.
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30 December 2023
Sir thank you for such a prompt rely, Big thanks.. Have nice time. ahead.
30 December 2023
You are welcome.
Thank you.
Thank you.
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