Hi All,
I have an urgent question on balance sheet requirement under schedule AL for income greater than 50 lakhs. If the gross income is say 54 lakhs, will that be considered or after the deduction of 80C, HRA etc?
I am confused. From what I understood if the total income i.e gross - 80C - HRA > 50 lakhs only then I need to file a balance sheet.
Do let me know.
If total income from all the heads of income, before deductions under chapter VI A, exceeds 50 lakhs........... mandatory to fill Schedule AL....
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