Find
AIS often shows gross sale values or contract values reported by exchanges, which can be far higher than tax turnover. Your return should follow the broker P&L and the ICAI turnover method.
ITR
Matching F&O figures in AIS with the broker statement
Updated . Every paid answer is checked by a CA. Free AI answers are labelled until a CA verifies them.
Provisions
Sec 44AB, Income-tax Act 1961 (now Sec 63, Income-tax Act 2025); Sec 143(1), Income-tax Act 1961 (now Sec 270(1), Income-tax Act 2025)
Analysis
The department compares your return with AIS, so explain differences. Example: AIS shows ₹3 crore of option sale value while your turnover by the ICAI method is ₹18 lakh. Report correctly in ITR-3 and use the AIS feedback option to note that the figure is contract value. Keep the trade-wise working ready.
Close
- Download AIS and the broker tax P&L
- Compute turnover by the ICAI method
- Give feedback on AIS where figures differ
- Report correct figures in ITR-3
Connect now
A Savvy replies in minutes.
Fixed price before you pay. Your Savvy is paid only after you accept the work.
General guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.