• AIS TIS

Hi,
I have invested in few Mutual Funds 4 years ago. I did not break any mutual funds till now.

But in MY AIS / TIS ( Annual Information Statement )

It is showing values in Following two fields :

Sale of securities and units of mutual fund ,
Purchase of securities and units of mutual funds,

( INFORMATION SOURCE ( National Securities Depository Limited ))

Can you please tell me why these information have come and what to do with this . It is showing some loss .
but I did not sell any share.


Thank you
Asked 7 months ago in Income Tax

It is possible that there could have been switch over from one fund to another fund by your Mutual Fund. You need to check the transactions with your holdings before and after such reported "Sale".

B Vijaya Kumar
CA, Hyderabad
965 Answers
124 Consultations

5.0 on 5.0

If you have not sell any transaction you dont need to do anything while filing ITR.

 

On the portal for AIS there is option for submission of remarks so you can submit your remarks that these transaction are not belonging to you

Vishrut Rajesh Shah
CA, Ahmedabad
826 Answers
34 Consultations

5.0 on 5.0

Hello,

 

This might have appeared due to a switch of investment in units of a mutual fund. It is considered a “transfer" and is therefore liable to capital gains tax, even though there is no realized gain/loss. You need to check if there is any switch. It is required to be reported in the return. 

I hope this answer satisfies your requirements. For a detailed resolution of your query, you can contact us directly at badlaniassociates at Gmail or take a phone consultation.

 

Regards,

CA Hunny Badlani

Badlani & Associates

Hunny Badlani
CA, Madhya Pradesh
2601 Answers
16 Consultations

5.0 on 5.0

Dear Sir,

 

Hope you are doing well !!

 

You could have been switch the mutual funds.

 

Since switching from regular funds to direct mutual funds is considered as a new investment, the switch can attract tax on capital gains. The applicable taxes can also vary depending on the type of capital gains i.e. long-term or short-term capital gains.

 

It is advisable to take a phone consultation for detailed discussion. 

 

 

 

 

Payal Chhajed
CA, Mumbai
5175 Answers
244 Consultations

5.0 on 5.0

You should reconcile the figures with broker statements and report the differences on the compliance portal

Vivek Kumar Arora
CA, Delhi
4493 Answers
619 Consultations

5.0 on 5.0

Hi,

 

There should be an option to intimate discrepancies in the AIS to income tax department. You can choose that option and intimate about the same.

 

Please also note that this can also appear if you have switched from one scheme to another.

Lakshita Bhandari
CA, Mumbai
5660 Answers
817 Consultations

5.0 on 5.0

You must have switched out of some mutual funds that's why it is showing it as such.

 

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.

Thank you

Naman Maloo
CA, Jaipur
4065 Answers
70 Consultations

5.0 on 5.0

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