My Net Taxable income is more than Rs. 50 Lakhs for the A.Y. 2022-23. Now, I need to file ITR 2.
Now I got know that I have to file a certain Schedule AL, giving details of all my personal assets & liabilities.
My query is what if I use ITR 2 but submit return without filing schedule AL, what will be the penalty for it ?
Thanks & Regards
Menu
ITR - Schedule AL
Replies (4)
Have you tried uploading the ITR without Schedule AL?
It will not get validated........
If at all it gets uploaded, there will be defective notice following.
@ Dhirajlal Rambhia
Sir, for last A.Y. 2021-22, I filed a return of a director in ITR 2 without schedule AL. It got submitted and also processed without any defect.
Sir, for last A.Y. 2021-22, I filed a return of a director in ITR 2 without schedule AL. It got submitted and also processed without any defect.
If the net income is more than 50 lakhs, then Schedule AL is must. If you have still managed to upload earlier, then it means schedule AL disclosures have been reported at NIL values.
The return will be treated defective if you select schedule AL as not applicable.
The return will be treated defective if you select schedule AL as not applicable.
My clients income for the year is Rs. 58 lakhs out of this 17 lakhs are arrears. So current year salary is Rs. 41 lakhs. I am filing her return in ITR 2. Now, in this case is schedule AL necessary ?
The limit of Rs. 50 Lakhs has been crossed due to arrears. I have filed form 10E but is schedule AL necessary ?
The limit of Rs. 50 Lakhs has been crossed due to arrears. I have filed form 10E but is schedule AL necessary ?
Recent Threads
- Income tax act 40 A (3)
- Transmission of deceased's shares in physical form
- Shall I pay GST payment for unkonwnly cancelled in
- Error in GSTR1 filing for October 25
- Inverted Rate structure .
- Exemption to be climed
- GST TDS u/s 51 Applicability on RBI and it's subs
- Time allowed to buy another asset
- ITR not processed for the FY 2024-25
- Gift of money to my wife.
Related Threads
CAclubindia
