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Schedule AL: Assets and Liabilities at the end of the Financial Year

Instructions: Schedule AL (Assets & Liabilities) needs to be filled if your income exceeds Rs. 50 lakhs.

  • This schedule is for reporting purposes only and does not impact your tax calculation.
  • Include all assets that you owned as of 31st March 2017
  • Do not report current market value of your assets.
  • Report cost values of your assets (total purchase cost). Read more

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Do you own any immovable assets (house, land, etc)?

Are you a partner or have made an investment in any partnership firm / LLP / AOP?



Financial assets

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Total balance in any savings bank accounts, fixed deposits, current accounts, etc.

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Stocks, mutual funds, etc

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Sum Assured from any insurance policies you hold.


Enter the total amount of physical cash you have (Rupee notes, etc).


Fill this if you have given a loan to someone.




Other Assets


Includes any jewellery, precious metals (gold, silver) or precious stones (diamonds, etc) that you own.

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Cars, motor vehicles, and even yachts, boats and aircrafts.


Painting, sculptures or any work of art, including archaeological collections



Liabilities

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Any loans you may have in relation to these assets.

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