AIS Sale of shares wrongly reported

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A user is experiencing an issue where their AIS incorrectly reports the sale of Tanfac Industries shares as 'short-term', despite holding them for over 22 years. The shares were dematerialised and transferred between depositories (CDSL to NSDL). The user is seeking an online method to rectify this discrepancy in their tax records.

Satish Shenoy

Satish Shenoy (Querist)
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01 April 2022 I have a problem with AIS for FY 2021-22.

I had purchased shares of Tanfac Industries in 1998. These shares were dematerialised in Oct 2018 with SBICAPS (CDSL Depository). I closed my trading account with SBICAPS and opened an account with ICICIDirect (NSDL Depository) in Feb 2021. The Tanfac Industries shares were moved from CDSL to NSDL in Feb 2021. I have physical documentation of dematerialisation to CDSL in Oct 2018 and Closure/ Transfer of shares to NSDL

I sold the Tanfac Industries shares in Aug 2021. However, the AIS for AY 2022-23 shows the sale as “Short Term” whereas I have been holding these shares for more than 22 years. NSDL has records of my holdings from Feb 2021 only.

Is there anyway to correct this online?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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01 April 2022 Use the feedback facility to give your views.
"If the taxpayer feels that the information is incorrect, relates to other person/year, duplicate etc., a facility has been provided to submit online feedback.

Satish Shenoy

Satish Shenoy (Querist)
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01 April 2022 Sir, Thanks for the solution.

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