Disturbing entry reflected in AIS increasing scope of notice u/s 69
This query is : Resolved
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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.
26 September 2025
Good luck...
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