I have question on filling up details in schedule AL of ITR2. I have purchased a property which is under construction and had paid 'x' amount to builder in last financial year22-23 which was seen in my TIS report, similarly 'y' amount is been seen in my this year 23-24 TIS report, so when I fill up the details should I sum the value of 'x+y' or just enter the amount 'x' that I paid this financial year as "Advance Payment for house" in section schedule AL Immovable property, could you please clarify on the same?
3 Replies
Vikrant
(SA)
(74 Points)
Replied 03 July 2024
Thanks for the response. So I should be showing X+Y in the "Details of Immovable Assets" entry as "Advanced payment for House", it is already auto populated from last year's entry.
Also should we specify Home loan availed amount till 31Mar24 under
Also under the Financial Assets:
a) should we declare the Bank account balance till 31Mar24, FD if any, etc. ? I guess this does not include the PPF amount, correct me.
b) Shares and Securities: Should we fill up the cost value of Shares and Mutual Funds in this section or the actual value on 31Mar24?
c) Same for Insurane policies, is it the policy amount that we need to declare or the premium paid for these policies?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177886 Points)
Replied 03 July 2024
YES.
A) PPF account is also included under investment.
B) Cost
C) Neither of two.
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