ITR
Capital gains in AIS versus broker statement
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Facts
AIS shows sale values reported by brokers and depositories. Small differences can come from charges, trade date versus settlement date, or corporate actions. Your return should follow the broker's capital gain statement, with a reconciliation.
Provisions and law
- Sec 285BB (now Sec 510)Annual Information Statement of reported transactions and taxes
- Sec 111A (now Sec 196)Short-term gains on listed equity
- Sec 112A (now Sec 198)Long-term gains on listed equity
Analysis
Match trade by trade where the gap is big. A ₹1,00,000 gap may be one trade near 31 March that AIS put in a different year, or an off market transfer reported as a sale. Report gains from the broker statement and give AIS feedback for any wrong entry. Keep the reconciliation, because sale value gaps are a common query.
Conclusion
- Download the broker's tax P&L and AIS CSV
- Match sale values by scrip and date
- Report gains as per broker data
- Give feedback on wrong AIS entries and keep the working
A Savvy can do this for you
Pre-filing reconciliation of AIS, TIS, 26AS and Form 16
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