Schedule AL valuation in Mumbai
If your total income crosses fifty lakh rupees, your income tax return includes Schedule AL, a list of what you own and what you owe. Mumbai professionals hit that line early, and the property rows raise the most questions. We give your CA numbers that stand on paper.
The trap in Schedule AL
Schedule AL asks for cost, not today's market price. Sounds simple until the property is a 1982 society flat bought by your father, or a flat received in redevelopment where you never paid a visible price, or an inherited share in a building. What is the cost of something you never bought? The law has answers, your CA applies them, and our certificates supply the defendable figures those answers need.
When Mumbai filers need us
- Inherited flats, where cost travels from the previous owner and sometimes from before 2001.
- Redevelopment flats, where the cost story has two chapters, the old flat and the exchange.
- Properties bought decades ago with part payments and improvements no one recorded cleanly.
- First time filers crossing fifty lakh who never listed the family property before and want the first entry done right.
The figure you file in Schedule AL should not contradict what you later claim when you sell. We keep the two consistent, which is exactly what an assessing officer checks.
Schedule AL questions from Mumbai
- Schedule AL wants cost. Why involve a valuer at all?
Because for inherited and pre 2001 property, the usable cost figure often has to be established, not copied from a receipt. A certificate showing how the figure was built protects the return if it is ever questioned.
- My flat came through redevelopment. What is its cost?
Broadly, it flows from the old flat plus the redevelopment exchange. Your CA computes the legal position and we certify the property values the computation needs. We coordinate directly with your CA if you want.
- Does the Schedule AL figure change my future capital gains?
The two must tell one consistent story. Filing one cost now and claiming a different basis at sale invites questions. Getting it certified once keeps every later filing aligned.
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Checked by Parish Rao, Chartered Engineer and Government Approved Valuer.
Page last checked on 23 August 2026.
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