banner_ad

Asset Liability ( AL Section ) in ITR2

ITR 1815 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
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

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

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details