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Schedule al in itr

ITR 912 views 3 replies

Vishal

Student

28 Points Joined October 2016

Hi,

Wanted some clarification regarding Schedule AL in ITR.

Does primary house where individual is staying included in Section A -> 'Do you own any immovable asset' of Schedule AL in ITR2?
Does mutual funds debt and equity investments also goes into 'Details of movable asset' under 'Financial asset' category?

Replies (3)

Kapadia Pravin

17264 Points Joined December 2018

Both items to be shown in AL Schedule

sundhar jkn

205 Points Joined June 2017

No. U should not fill in AL schedule. Only those assets are not routed through balance sheet is only fill here . Also applicable to person whose income exceeds 50 lakhs

In context to person whose income exceeds 50 lakhs ->
Where would debt mutual fund investment entries be filled in schedule AL? It cannot go to 'Financial Asset -> a) Bank (including all deposits) and also B) Share and Securities'.

Equity mutual fund can probably be stated under 'Share and Securities' but not debt mutual fund.