Schedule a l (assets & liability) in itr-4

ITR 1932 views 2 replies

MITEN SHAH

SELF OCCUPIED

47 Points Joined February 2012

I am filing ITR-4 bfor A.Y. 2014-15. As per ITR form Schedule A L has to be fill if annual income exceeds Rs.25 Lakhs.

My query is what amount should i have to take in considerations for LAND, BUILDING, SHARES,INSURANCE POLICIES & JEWELLERY ?

I understand that i have to mention cost of such assets when i acquire or purchase.

I am confused about the Insurance policies. Please explain that i have to mention premium amount paid during Ass.Year 2014-15 (A/C Year: 2013-14) or total sum insured or all premium paid up to 31/03/2014 or surrender value/ NAV (for ULIP) ?

Please experts are requested to reply in detail with necessary clarifications.

Hope for best & early replies.

Replies (2)

Guest

Under Insurance policies mention the total premiums paid till date (cost). Remember that only those assets which are not in BS will come here.

since your Total Income>25L it is better if you consult a CA in your area.

Puneet Kumar Jain

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30 Points Joined April 2008

Thanks for your reply but my query is my income is from capital gain on which tax has already been paid in full. Should i need to fill schedule AL or not.

regards

puneet jain