banner_ad

Asset Liability ( AL Section ) in ITR2

ITR 1835 views 1 replies

Hello Sir,

I would like to understand, if i am filling AL sheet in ITR2 do i need to include ?

1. EPF Balance

2. Super Annuation Balance

3. National Pension Scheme Balance etc.

4. Public Provident Fund Balance etc

5. Insurance Policies 

If yes, how do i calculate the Cost of the these assets, every year interest gets added. It is not possible to find how much i have contributed 

Also Last year while filing ITR2, with advice from one consultant in our office, i entered Market value of assets in my AL schedule. If i change it to cost of asset this year , will there be an issue. 

Any suggestions ?

Thank you,

Best Regards, 

 

Replies (1)

Yes these are included in Schedule AL at cost. Passbook of EPF, NPS gives the principal balance and interest balance/profit balance separately. For convenience, you may entered it at FMV as this schedule is only for disclosure purpose and not to compute any tax value.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
08 May 2026
Paid Assistants

Quick Taxperts Private Limited

Bengaluru

Graduate (Any)

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details
Company
11 May 2026
CA Dropout

Patron Accounting LLP

Pune

CA Inter

View Details
Company
03 May 2026
Senior Chartered Accountant

Nirmal Jain & Co

New Delhi

CA

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details