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Schedule AL in ITR of Company

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Kishore Nuthalapati

Accountant for multiple small entities

154 Points Posted on 20 October 2024

Hi Sir/Madam

Is it required to fill Schedule AL in ITR of unlisted company.

For Individual and HUF there is a limit of 50 lacs total Income

1.For Companies also will the limit apply

2. Is it required to show assets if they are already included under Net black of Fixed Assets

Please advise

Thanks

Replies (2)

Quick Summary

This discussion clarifies whether companies need to file Schedule AL in their Income Tax Return (ITR). It's explained that Schedule AL is primarily for individuals and HUFs above a certain income threshold. Companies typically file ITR-6, which includes a full balance sheet and specific schedules for shareholding and assets, making a separate Schedule AL unnecessary.

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

121543 Points Posted on 20 October 2024

No. While it's generally recommended to file Schedule AL to provide a complete picture of your financial situation, it's not a strict requirement for ITR 6.

Aashok Kumar Sharma

Finance/Compliance Consultant

75653 Points Posted on 07 November 2026

Companies don't fill Schedule AL:

• Schedule AL (assets and liabilities at year-end) applies to individuals and HUFs with total income above Rs 1 crore (from AY 2025-26). Companies file ITR-6 with a full balance sheet (Part A-BS), so there's no separate Schedule AL.

• ITR-6 also has schedules for shareholding (unlisted companies: Part A-SH, shareholders with 1% or more), assets outside India, and details of beneficial ownership.

• Unlisted companies must also give details of directors and key persons.