Capital Gains Mismatch AIS

In October 2023, I sold an property and received 85 Lacs from the sale but the notarized agreement for sale was created for 60lacs along with Power of Attorney and consent affidavit and complete posession was handed over to the buyer. There were 2 owners to the property including me so my share was of 30Lacs.

In December 2023 I purchased an property of 64 lakhs and registered the sale deed immediately and filed ITR-2 claiming LTCG benefits on the 30Lacs received from October 2023 sale.

Now in August 2025 this property was registered at 85Lacs and AIS is now showing 85Lacs in FY 2025-26. Also Index-2 says market value for the sold property as of August 2025 is 1.24Cr.

I have 3 queries

  1. As posession was handed over completely in October 2023 post receiving all payments from buyer. This clause is mentioned in notarized agreement as well as registered agreement. Can i go back and rectify FY23-24 ITR-2 and correct the value of 30Lacs entered at that time?
  2. What should be the correct value for claiming LTCG 30Lacs OR 85/2=42.5Lacs OR 1.24Cr/2=62Lacs.
  3. For the currenty FY 2025-26 AIS showin 85 lacs value, how shall i reply to it
Replies (4)
Quick Summary
This discussion addresses a capital gains tax discrepancy where a property sale in October 2023 was initially recorded at a lower value in the agreement for sale (60 lakhs) and ITR-2 filing (30 lakhs per owner share), but later appeared in the AIS for FY 2025-26 at the actual sale price of 85 lakhs. The user is seeking clarification on rectifying the previous ITR-2, determining the correct capital gains value (30 lakhs, 42.5 lakhs, or 62 lakhs), and responding to the AIS discrepancy, especially considering possession was transferred in FY 2023-24 and the property was undergoing redevelopment at the time of sale.

Transfer legally took place in FY 2023-24 upon giving full possession and receiving ₹85 Lakhs. Your share of consideration is ₹42.5 Lakhs (50% of ₹85 Lakhs). Standard revision for FY 2023-24 is expired, but you can correct the reported consideration using ITR-U under Section 139(8A). For the AIS entry in FY 2025-26, submit online feedback selecting "Transfer completed in prior year" with details of your FY 2023-24 filing.

Okay thanks.

Also, I forgot to mention that when the property was sold in October 2023, it was undergoing redevelopment by the builder. As a result, the notarised agreement refers to the old room number from the original building. Subsequently, after redevelopment, the registered sale agreement mentions the new room number allotted by the builder for the redeveloped property. Is this an point to consider in this case?

Provide correct data in the first stage itsaelf, so that correct resoution can be given. 

Your claim to given possession in october 2023 is incorrect. As the property was under construction.

Neither the registration of the document nor the possession was handed in 2023, so the claim of transaction happening in 2023 is incorrect.

For correct resolution contact your loca CA immediately.

For AIS Compliance and Pl disagree, by submitting the documents of Powe and affidavit, and transfer the difference to other person pan. Tds claim also sumitted only to tge extent of the consideration received. It's my view 

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