An individual's AIS portal is showing Long Term Capital Gains (LTCG) from a mutual fund sale, which the client denies making. The advice given is to have the client thoroughly check their bank statements for any redemption proceeds around the reported sale date. If no such transaction is found, the client can dispute the AIS reporting as incorrect.
23 July 2025
AIS portal shows LTCG on mutual fund selling of one of my client. While my client denies any such sale of mutual fund. What should be done ?
23 July 2025
Let him check properly, specifically redemption proceeds. If he has not received any such amount in his account on or near about date, he can deny the AIS reporting as 'not correct'.