Disclosure of assets and liabilities when the employee salary exceeds 25 lakhs

• The Business Assets already disclosed in balance sheet are not required to be disclosed in the Schedule AL.
• The Cost of the Asset is to be disclosed and not its current market value.
• The Assets to be disclosed does not include assets with personal affects such as wearing apparel, furniture, etc.
• The corresponding liablities related to assets also needs to be disclosed.

Source : https://thecastreet.com/assets-disclosure-mandatory-in-income-tax-return