A taxpayer whose income exceeds Rs. 50,00,000 in a financial year is required to disclose certain assets & liabilities.
The disclosure of assets consists of immovable property, movable property, and financial assets owned by the taxpayer. The liabilities include all liabilities of the taxpayer in relation to such assets.
To report Assets & Liabilities on Quicko
- Navigate to Filing > ADDITIONAL DETAILS from the side nav
- Under Assets & Liabilities, click on EXPLORE
- Add the details of the Movable & Immovable assets
- Once the details of assets are added, add the liabilities in relation to those assets.
- Click on Save