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ITR - 6: SCHEDULE (AL-1)

Lokesh Jain (CA,CS) (162 Points)

06 September 2019

While filing itr-6, for unlisted Company it is mandatory to fill AL-1.
But the company has no assets and liabilities. As we are not filing the AL-1, it is showing an error.

kindly provide your opinion

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12 Replies

Sahil (student) (28 Points)
Replied 06 September 2019

Try by putting 0 in coloumns of AL1

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Lila (Job) (512 Points)
Replied 24 September 2019

hI lOKESH...HOW DID U RESOLVE THIS? FACING SAME ISSUE..

Lila (Job) (512 Points)
Replied 24 September 2019

or any other experts have a resolution to this?

Shiv (-) (24 Points)
Replied 24 September 2019

Facing same issue, please help.

Lokesh Jain (CA,CS) (162 Points)
Replied 24 September 2019

I have got two solutions from discussion :
1. either to file return with error, or
2. fill "0"

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Shiv (-) (24 Points)
Replied 24 September 2019

Filling 0 doesn't help because it requires a proper pincode (which can't start with 0) and proper date.

Lila (Job) (512 Points)
Replied 25 September 2019

Fiing with error also may not help as it may be treated as defective return.

Amish (General) (340 Points)
Replied 26 September 2019

In Part C (Details of listed equity shares) of Schedule AL-1

1) Put everything as Zero (0)
2) Type of shares = Equity Shares.

And it accepts it without error.

Dont fill anything else. Just fill Part C only.

If you have filled anything else then click on "checkbox" and then click "delete" to erase that entry.

1 Like

Amish (General) (340 Points)
Replied 27 September 2019

New ITR-6 return released yesterday. (26-Sep-2019)

It now has a question on top of schedule AL-1

Do you have Assets and liabilities as at the end of the year as mentioned in Schedule AL-1?

Just answer NO to it.

Lokesh Jain (CA,CS) (162 Points)
Replied 27 September 2019

Yes the problem is resolved... It was technical error in the form

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Rajma Group (2 Points)
Replied 27 September 2019

Hi,

In ITR-6, Schedule AL-1 , are we to include details of Stock in Trade as well as Investments/Assets?

Ayush (Executive ) (6760 Points)
Replied 23 November 2023

Schedule AL (Assets and Liabilities) is a section in the Income Tax Return (ITR) where a taxpayer discloses information about their assets and corresponding liabilities. This schedule requires the taxpayer to provide details about the values of assets and liabilities at the end of the financial year. The disclosed assets encompass immovable property (real estate), movable property (personal possessions), and financial assets owned by the taxpayer. Liabilities disclosed in this schedule include all obligations related to these assets. By providing this information, taxpayers offer a comprehensive view of their financial position to tax authorities.