Itr2 schedule al : under construction property

Need not, but total assets value should be declared.

Thanks, Mr Rambhia, but could you please guide where exactly should you reflect the total assets value in the ITR 2 as Immovable property is listed in Section A in AL schedule.Section B is for movable assets, Section C is for interest held in a Firm. So where exactly to reflect this?

Hi Can anybody answer this please ?

In ITR2 under Schedule AL where to reflect property under construction with abuilder and only partly paid for?

AND LIABILITIES
A Details of immovable asset
Sl.
No.
Descripttttion Address Amount (cost) in Rs.
(1) (2) (3) (4)
(i)
(ii)
B Details of movable asset
Sl.
No.
Descripttttion Amount (cost) in Rs.
(1) (2) (3)
(i) Jewellery, bullion etc.
(ii)
Archaeological collections, drawings, painting, sculpture or any work of art
(iii) Vehicles, yachts, boats and aircrafts
(iv) Financial asset Amount (cost) in Rs.
(a) Bank (including all deposits)
(b) Shares and securities
(c) Insurance policies
(d) Loans and advances given
(e) Cash in hand
C Interest held in the assets of a firm or association of persons (AOP) as a partner or member 

Thanks Mr Rambhia.  This means that under construction property needs to be reflected along with the completed property details itself.  My doubt was that if we do so, since there is no place to mention that this property is still under construction,  would it not result in a query as to why these properties are not shown / demed as let out ?

(d) Loans and advances given
comes under current assets and not under Immovable assets!!!

Thanks a lot

My pleasure

Hello Sir, my query in AL schedule, under bank accounts ( including deposits),  details about FDs with bank and/or RD etc need to be provided?

Yes......... all balances including deposits, FDs with accrued interest, RD balance etc....... in aggregate.

Hello Sir,

This year I sold some shares and hence accrues LTCG of Rs 53 lacs. Should I now fill Schedule AL since total income is > 50 lacs  or should I follow the definition of Total income which excludes Exempt Income as per IT act and not fill schedule AL?

Pls advise

Regards

Naveen

Hello Sir,

This year I sold some shares and hence accrues LTCG of Rs 53 lacs. Should I now fill Schedule AL since total income is > 50 lacs  or should I follow the definition of Total income which excludes Exempt Income as per IT act and not fill schedule AL?

Pls advise

Regards

Naveen

Yes, you have an option........

HI Dhiraj,

I live in an owned (jointly with mother) property and recently I purchased another under construction flat (jointly with mother) in Dec 2017 on Bank loan. I will get possession after 4 years.

Question :Where in ITR2

1) Do I need to enter details of under construction property.

2) Where to enter pre EMI & interest details so that I can claim refund on interest after possession.

3) I have also paid TDS 1% while purchasing property. Where do I enter these details (6B details/ 26qb) in ITR