Find
AIS shows the gross sale value reported by brokers, not your gain. What is taxable is sale value less cost, reported in Schedule CG. If you filed the capital gains correctly, the variance is about presentation, not missing income.
ITR
AIS share sale value treated as income
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Provisions
Sec 143(1)(a) (now Sec 270(2)); Sec 48 (now Sec 72); Sec 111A (now Sec 196)
Analysis
Sec 48 (now Sec 72) taxes only the gain, so ₹9,00,000 of sales with ₹8,40,000 cost gives ₹60,000 of gain. Check that the total sale value in Schedule CG matches the AIS sale value; if you reported only the net figure, the mismatch is expected. Disagree, stating that full consideration of ₹9,00,000 and cost of ₹8,40,000 were reported in Schedule CG. If you filed ITR-1 and left the sales out, the form itself may have been wrong and a revised ITR-2 may be needed.
Close
- Download the broker's capital gains report for the year.
- Match total sale value with AIS and Schedule CG.
- Disagree and give sale value, cost and gain.
- If sales were left out, file a revised return in ITR-2.
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