Disturbing entry reflected in AIS increasing scope of notice u/s 69
This query is : Resolved
07 July 2025
Sir,
I had purchased 9 lakh Axis overnight mutual fund on 12/11/24 which I redeemed on 25/11/24. Again bought 9 lakh Axis overnight mutual fund on 03/01/25 with same corpus which I redeemed on 25/03/25. So total money involved is 9 lakh only. But in AIS for AY 25-26, AMC has reported this as purchase of 18 lakh in 1 count cumulatively instead of 2 counts as if I have purchased high value 18 lakh at one shot which may be counted as high value transaction in AO's eye and I may be served notice or scrutiny may come.
My question:
How ro response and explain to AO if 143(2) or 148A or 69 notice is sent to me ?
Thanks
I had purchased 9 lakh Axis overnight mutual fund on 12/11/24 which I redeemed on 25/11/24. Again bought 9 lakh Axis overnight mutual fund on 03/01/25 with same corpus which I redeemed on 25/03/25. So total money involved is 9 lakh only. But in AIS for AY 25-26, AMC has reported this as purchase of 18 lakh in 1 count cumulatively instead of 2 counts as if I have purchased high value 18 lakh at one shot which may be counted as high value transaction in AO's eye and I may be served notice or scrutiny may come.
My question:
How ro response and explain to AO if 143(2) or 148A or 69 notice is sent to me ?
Thanks
07 July 2025
No need to worry if you have relevant statements & declared the STCG over the redemption of units worth Rs.18 lakhs with the gain.
07 July 2025
Thanks sir for your kind help
07 July 2025
You are welcome.
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