Schedule AL: Assets & Liabilities ITR
Schedule AL for high-income returnees: property, jewellery, bank balances, liabilities — vs Schedule FA.
The 60-second version
Schedule AL applies when income exceeds threshold — returning NRIs with India property plus foreign accounts must list assets and liabilities accurately to avoid AIS mismatch.
AL is India balance sheet — FA is foreign asset schedule
Schedule AL lists India immovable property, movable assets, and bank balances above rules.
Do not duplicate FA foreign brokerage into AL incorrectly — different schedules.
FA hub: Schedule FA guide.
AL vs FA
| Schedule | Covers | ITR |
|---|---|---|
| AL | India assets | ITR-2/3 |
| FA | Foreign assets | ITR-2/3 |
| BP | Business | ITR-3 |
AL completion
List property
Registry value
Bank balances
31 Mar
Vehicles
Cost
Liabilities
Home loan
Cross-check AIS
No mismatch
Flow
AL kit
- Registry docs.
- Bank stmt.
- Loan stmt.
- AIS.
- CA review.
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Jewellery estimate
Use reasonable cost — extreme undervaluation triggers scrutiny.
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Threshold?
Check AY notification — typically Rs 50 lakh income.
Foreign flat?
FA not AL for foreign immovable.
RNOR?
AL still if income threshold met.
Joint property?
Share % only.
Crypto?
VDA schedule separate.
Notice mismatch?
Revise ITR 139(5).
Your tax year is already running.
RNOR status, exit timing, and DTAA benefits all depend on decisions you make before you land. Don't guess.