Add Personal Assets and Liabilities
If your total income exceeds ₹1 crore, you're required to report your personal assets and liabilities while filing your income tax return. This helps the Income tax department assess your financial position more accurately.
Steps to Add Personal Assets and Liabilities
Go to File > Additional Details
Navigate to Personal Assets & Liabilities > Add Personal Assets
Choose the type of asset > Select where it is held
Enter the required details and click Save
To add liabilities, switch to the Liabilities tab > click Add Personal Liabilities
Fill in the relevant fields like Description, Liability Type, and Value, then click Save
Once you've added all your assets and liabilities, your total asset value, liabilities, and net worth will be displayed at the top of the screen.
Need Help?
If you're unsure or need assistance, raise a ticket and our team will guide you.
Steps to Add Personal Assets and Liabilities
Go to File > Additional Details
Navigate to Personal Assets & Liabilities > Add Personal Assets
Choose the type of asset > Select where it is held
Enter the required details and click Save
To add liabilities, switch to the Liabilities tab > click Add Personal Liabilities
Fill in the relevant fields like Description, Liability Type, and Value, then click Save
Once you've added all your assets and liabilities, your total asset value, liabilities, and net worth will be displayed at the top of the screen.
Need Help?
If you're unsure or need assistance, raise a ticket and our team will guide you.
Related Articles
Claim Depreciation on Fixed Assets
Claiming depreciation allows businesses to reduce their taxable income by accounting for the gradual reduction in value of fixed assets over time due to wear and tear or obsolescence. Why Claim Depreciation? Depreciation is a non-cash expense that ...Add Income from Sole Proprietorship Business
A sole proprietorship is one of the simplest and most common forms of business. In this structure, the business and the owner are treated as a single entity for tax purposes. If you're earning income through a sole proprietorship, here's how you can ...Add Income from Intraday and F&O
Intraday and F&O income refers to earnings from trading in stock markets—specifically from intraday trading (buying and selling stocks within the same day) and Futures & Options (F&O) contracts. These are considered speculative (Intraday) or ...Unable to Add more than 2 Self Occupied Properties
A self-occupied house property is one that you use for your own residence or personal use. According to income tax laws, if you own more than two house properties and leave them vacant for the entire year, they will be treated as deemed let-out. This ...Add Auditor Details
When filing your taxes, especially if a tax audit is applicable, adding your auditor’s details is a key compliance step. It ensures transparency and establishes the authenticity of the audit report as per regulatory requirements. Web Mobile Web Steps ...