Find
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.
ITR
Mutual fund or share sale value in AIS
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Provisions
Sec 285BB (now Sec 510); Sec 112A (now Sec 198); Sec 111A (now Sec 196)
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.
Close
- Download the capital gain statement from the fund registrar or broker
- Match the sale values with AIS
- Compute gains by type and holding period
- Report in Schedule CG; give feedback only if AIS values are wrong
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