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Query Details

Asked by Pankaj on :Jun. 19, 2018

Do I require to mention details of assets and lia…

Do I require to mention details of assets and liabilities while filing ITR-1 ?

Do I require to mention details of assets and liabilities while filing ITR-1 ?

0

Jeeba Jun. 19, 2018

No.
Individuals/HUFs are required to furnish details of assets and liability only when income exceeds Rs 50 lakhs.

However, ITR-1 can not be filed if income exceeds Rs 50 lakhs.

Thus, individuals earning above Rs 50 lakhs will have to choose ITR-2 or ITR-3 or ITR-4 as per the nature of income.

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