Schedule AL¶
As per the Indian Income tax law, citizens are obligated to report their entire Assets and Liabilities if the total income exceeds ₹50 lakh. Paisa helps with the computation of the amount.
| code | Section | Details |
|---|---|---|
| immovable | A (1) | Immovable Assets |
| metal | B (1) (i) | Jewellery, bullion etc. |
| art | B (1) (ii) | Archaeological collections, drawings, painting, sculpture or any work of art |
| vehicle | B (1) (iii) | Vehicles, yachts, boats and aircrafts |
| bank | B (1) (iv) (a) | Financial assets: Bank (including all deposits) |
| share | B (1) (iv) (b) | Financial assets: Shares and securities |
| insurance | B (1) (iv) (c) | Financial assets: Insurance policies |
| loan | B (1) (iv) (d) | Financial assets: Loans and advances given |
| cash | B (1) (iv) (e) | Financial assets: Cash in hand |
| liability | C (1) | Liabilities |
All you need to do is to specify the accounts that belong to each section. Paisa will compute the total as on the last day of the previous financial year.