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ITR - Schedule AL

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Student
273 Points Posted on 16 July 2022
My Net Taxable income is more than Rs. 50 Lakhs for the A.Y. 2022-23. Now, I need to file ITR 2.
Now I got know that I have to file a certain Schedule AL, giving details of all my personal assets & liabilities.

My query is what if I use ITR 2 but submit return without filing schedule AL, what will be the penalty for it ?

Thanks & Regards
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On 16 July 2022 at 19:11 Report
Replies (4)
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SEO Sai Gr. Hosp.
211715 Points Posted on 16 July 2022

Have you tried uploading the ITR without Schedule AL?

It will not get validated........

If at all it gets uploaded, there will be defective notice following.

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On 16 July 2022 at 19:30
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Student
273 Points Posted on 16 July 2022
@ Dhirajlal Rambhia
Sir, for last A.Y. 2021-22, I filed a return of a director in ITR 2 without schedule AL. It got submitted and also processed without any defect.
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On 16 July 2022 at 19:40
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Practising CA
8954 Points Posted on 17 July 2022
If the net income is more than 50 lakhs, then Schedule AL is must. If you have still managed to upload earlier, then it means schedule AL disclosures have been reported at NIL values.

The return will be treated defective if you select schedule AL as not applicable.
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On 17 July 2022 at 02:10
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Student
273 Points Posted on 17 July 2022
My clients income for the year is Rs. 58 lakhs out of this 17 lakhs are arrears. So current year salary is Rs. 41 lakhs. I am filing her return in ITR 2. Now, in this case is schedule AL necessary ?

The limit of Rs. 50 Lakhs has been crossed due to arrears. I have filed form 10E but is schedule AL necessary ?
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On 17 July 2022 at 04:46


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