Answer

1. F

   Facts

   AIS shows the sale value reported by the fund house or depository, not the gain. Only the capital gain, sale value minus cost, is taxable, at rates that depend on the type of asset and holding period.

2. P

   Provisions and law

   • Sec 285BB (now Sec 510)Annual Information Statement of a taxpayer's reported transactions and taxes
   • Sec 112A (now Sec 198)Tax on long-term gains from listed equity and equity funds
   • Sec 111A (now Sec 196)Tax on short-term gains from listed equity and equity funds
3. A

   Analysis

   If you redeemed ₹8,00,000 of an equity fund bought for ₹6,50,000 more than a year ago, the long-term gain is ₹1,50,000. Up to ₹1,25,000 of such gains in a year is not taxed under Sec 112A, so tax is on ₹25,000. Usually no feedback is needed if the sale value is right; just report the gain correctly. If the sale value or date is wrong, give 'not fully correct' feedback.

4. C

   Conclusion

   1. 1Download the capital gain statement from the fund registrar or broker
   2. 2Match the sale values with AIS
   3. 3Compute gains by type and holding period
   4. 4Report in Schedule CG; give feedback only if AIS values are wrong

General guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.