Find
Individuals with income above ₹50L must file Schedule AL (Assets and Liabilities) in their ITR. This discloses all assets, immovable property, financial assets, jewellery, vehicles, and liabilities.
HNI wealth · HNI Tax
ITR for HNI: what Schedule AL requires and why it matters
Updated . Every paid answer is checked by a CA. Free AI answers are labelled until a CA verifies them.
Provisions
IT Act, Sec 263 (old 139) | ITR-2/3 Schedule AL
Analysis
What to include: All property at cost of acquisition (not market value). Listed investments at cost. Unlisted equity at cost. Bank deposits balance as of March 31. Gold and jewellery at cost. Loans taken. Why it matters: Schedule AL is now cross-referenced with property registration data, banking data, and MCA filings. Significant discrepancies between listed assets and known transactions trigger notices. Under-reporting assets in Schedule AL is as dangerous as under-reporting income.
Close
Talk to a Savvy for the exact next step on your case.
Connect now
A Savvy replies in minutes.
Fixed price before you pay. Your Savvy is paid only after you accept the work.
General guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.