Is it ok to show more LTCG & STCG than actual?

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This query is : Resolved

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A user is asking if it's acceptable to declare more Long-Term Capital Gains (LTCG) and Short-Term Capital Gains (STCG) than the actual amounts, as their AIS (Annual Information Statement) shows higher figures. They believe this might be safer and that a tax rebate would negate any tax liability. Another user confirmed this approach is fine, advising to check rebate eligibility for capital gains.

Kumar Thakkar

Kumar Thakkar (Querist)

23 July 2024 Reason is AIS is showing more than actual

So I wanted go with AIS values to be safer side from any issues in future and anyways with rebate it will be not taxable to me so is it good to go?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

23 July 2024 Yes, good to go. Check rebate not available for capital gains.

Kumar Thakkar

Kumar Thakkar (Querist)

23 July 2024 Oh ok Thanks for Answer.

It's showing me rebate before 5 days haven't checked again now.

But my total income is 3,80,000 so may be this reason it's showing rebate?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

23 July 2024 You are welcome..
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