Schedule of Assets and Liabilities for the year AY 2017-18

In the case of Individuals OR HUF, with income more than Rs. 50 lakh a year, a Schedule of Assets and Liabilities, has to be provided with details such as description and address of immovable properties (Valuation of the Immovable Property is Cost includes the valuation under Sec 49(1) also), bank deposits, shares, insurance policies, loans, cash in hand, investments in partnership firms, etc in the Income Tax Return.

Tags :, #Asset-Declaration, #Income-Tax-Return, #ITR