Annual Information Statement Mismatch
This query is : Resolved
Quick Summary
25 December 2021
Annual Information Statement has details about Purchase/ Sale of Securities and Mutual Fund. However, these do not match with the actual details.
Which amount should be considered while filing income tax return.
Which amount should be considered while filing income tax return.
CA R SEETHARAMAN
(Expert)
25 December 2021
File ITR as per actuals. Some variations are there.
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25 December 2021
Thanks for your reply. What is the probability of receiving Defective return notice ?
CA R SEETHARAMAN
(Expert)
25 December 2021
If the variation is not significant no defective return notice will be received.
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26 December 2021
The variation is significant. The AIS shows profit of Rs. 11 Lakh and in actual, there is a loss.
CA R SEETHARAMAN
(Expert)
26 December 2021
AIS will not show profit. It will show only transaction.
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26 December 2021
Sorry, my mistake. The AIS shows purchased of securities at 2 Lakh and sale of securities at 13 lakh (profit 11 lakh) whereas actual figures very much different.
CA R SEETHARAMAN
(Expert)
26 December 2021
It's total sales and purchases during the year is given.
The sale may be out of previous year purchase.
Tell me your total sale and purchase of securities during the year.
The sale may be out of previous year purchase.
Tell me your total sale and purchase of securities during the year.
27 December 2021
The Purchase is 159 lakh and sale is 158 lakh (all short term),short term capital loss to be carried forward around 1 lakh.
CA R SEETHARAMAN
(Expert)
27 December 2021
Disclose the above trading details you will not receive any notice.
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CA R SEETHARAMAN
(Expert)
28 December 2021
You are welcome........
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