Details of liabilities to be included in Schedule AL-1 of ITR6

[Debtosh Dey]

Can anybody clarify as to ITR-6 Schedule AL-1 whether 'details of liabilities' would include creditors, loans & advances. There are some doubts expressed as the format includes amounts received and interest which normally apply to loans and advances received and not creditors.

AI Summary

Schedule AL-1 liabilities: whether disclosure must cover trade creditors or only borrowing-type loans and advances. Whether the requirement to disclose details of liabilities in Schedule AL-1 of the ITR 6 encompasses trade creditors as well as loans and advances is queried, since the Schedule's fields for amounts received and interest conventionally align with loans and advances rather than ordinary creditors.