Schedule AL - Asset and Liabilities Details

Dwija123 · Post by **Dwija123** » Wed Jul 25, 2018 11:01 am

Hi Friends, NRI's and countrymen,

As the search for "Schedule AL" takes you all over the place (may be due to the schedule part), therefor if this has been discussed please forgive me and direct me to appropriate post. Anyway if you are making > 50L you need to disclose all your assets and liabilities to Indian government. I am getting worried about this as so much information in the hand of GOI with its little regard for security and privacy of data can really put one's family security in danger. Anyway we need to disclose all foreign investments and now this :(. Unfortunately there seems to be no alternative.

How are other members dealing with it. Is it a non issue, am I over thinking ?

indian · Post by **indian** » Wed Jul 25, 2018 4:54 pm

Is this declaration to be done after RNOR period is over or as soon as you arrive in India?

Dwija123 · Post by **Dwija123** » Thu Jul 26, 2018 11:17 am

indian;678184Is this declaration to be done after RNOR period is over or as soon as you arrive in India?

This is based on Indian earnings while filing Tax in India for that FY. From my little knowledge if your earnings is India exceed 50 Lacs you should file it. Its a recent development for me so I am also asking senior member about it.

Raj_India · Post by **Raj_India** » Wed Sep 05, 2018 12:01 am

It is true that ITR-2 now has schedule AL for this. I agree security is an issue but I do not see any alternative. You have to furnish those details.