Schedule AL Calculator for Your Tax Return
Schedule AL applies once your total income crosses fifty lakh. It asks what you paid for things, not what they are worth today, which is the opposite of what most people assume.
Want the exact figure? Send us what you have worked out and we will tell you exactly what an official valuation report involves.
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Who has to file this
Schedule AL appears in your income tax return once your total income for the year exceeds fifty lakh rupees. Below that threshold it does not apply and you can ignore it entirely.
Above it, you are declaring what you own and what you owe, asset class by asset class. It is a disclosure rather than a tax computation, but an inconsistent one draws attention.
The mistake almost everybody makes
Schedule AL asks for cost, not current value.
People fill in what their flat is worth today, because that is the number they know. That is wrong, and it also creates a permanent inconsistency, because the cost figure is what your capital gains computation will use whenever you eventually sell.
Enter what was actually paid, plus stamp duty and registration, plus the cost of any improvements.
When you do not know the cost
This is common with inherited property, with old family gold, and with anything acquired decades ago.
For inherited assets, the cost is what the previous owner paid. If they acquired it before 1 April 2001, the value on that date can be used instead, and that value has to be established with evidence.
Old jewellery is a similar problem. Nobody keeps bills for a wedding set from 1985. A valuer can establish a defensible figure from purity, weight and the rates of the relevant period. That is what a jewellery valuation does.
Keep it consistent year to year
Schedule AL is filed every year you cross the threshold. The figures should move only when you buy, sell or repay something.
Costs that jump around between years with no transaction behind them are exactly the kind of inconsistency that invites a question. Fix the numbers properly once, keep the working papers, and reuse them.
What we prepare for this
Cost basis valuations of property, gold and other assets, with the workings and the evidence attached, so the figures in your return are supported if anybody ever asks.
The same work usually serves twice, because the cost figure you establish for Schedule AL is the cost figure your capital gains computation will need on the day you sell. More on Schedule AL valuation here.
Questions people ask us
- Who has to fill Schedule AL?
Anybody whose total income for the year exceeds fifty lakh rupees. Below that threshold the schedule does not apply.
- Does Schedule AL want current market value?
No. It asks for cost, meaning what you actually paid, together with stamp duty, registration and improvement costs. Entering current value is the most common error on this schedule.
- What if I inherited the property and do not know the cost?
The cost is what the previous owner paid. Where they acquired it before 1 April 2001, the value on that date can be used instead, and that figure needs to be established with evidence rather than estimated.
- What about old gold with no bills?
Very few families have bills for jewellery bought decades ago. A valuer establishes a defensible figure from the weight, the purity and the rates of the relevant period, and documents the working.
Checked by Parish Rao, Chartered Engineer and Government Approved Valuer (Registration number CAT-I/443/117/2000-01).
Page last checked on 7 October 2026.