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Do I require to mention details of assets and l...

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.

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

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