What’s AIS?
Up till now, Type 26AS served as a consolidated annual tax assertion. AIS will embody all the data that’s talked about within the Type 26AS together with the data associated to securities & mutual fund transactions, pursuits, dividends and extra.
What’s its use?
Taxpayers must rigorously examine all of the transactions mirrored within the AIS and make mandatory amends (if any) as a result of this info will likely be important for submitting ITR.In case of any mismatch within the TDS/TCS particulars displayed on Type 26AS and AIS – at current, it is suggested to observe Type 26AS out there on TRACES.
Why does buying and selling knowledge in AIS not match with Buying and selling knowledge in your Dealer assertion?
Following will be the causes for discrepancies within the AIS knowledge and the buying and selling knowledge:
The estimated value of acquisition for the credit score is set on the absolute best out there value with the reporting entity. Because of which, knowledge on sale/buy of shares is displaying the day’s closing costs relatively than costs at which the sale/buy was executed.
The estimated value of acquisition is taken as NIL for OFF Market credit in AIS. This may occasionally have an effect on right valuation of present transactions.
AIS Knowledge is displaying pledged shares as sale of shares.
AIS is displaying solely the overall buy & the overall gross sales worth of securities. It doesn’t present earlier yr holding because of which capital good points are mismatched.
Duplication of Entries could occur. Additional, it could occur that the data pertains to one other individual/yr.
The distinction within the Quantity column of supply sensible aggregated info of 1 or two rupees could also be occurring due to rounding off of decimals.
You may learn up extra on AIS within the following article.
Weblog by Quicko – 10 Nov 21
Decoding the Annual Info Assertion(AIS) – Weblog by Quicko
The Annual Info Assertion(AIS) has been rolled out by the ITD and it could effectively substitute Type 26AS. So what’s the AIS? Let’s discover out
Est. studying time: 4 minutes
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through which part of AIS (or 26AS )will f&o transactions (revenue or loss) characteristic ? @Quicko
Hello @gaurav_choudhary
Your F&O transactions (income/losses) usually are not proven in both AIS or Type 26AS. They are going to be proven within the dealer assertion.
Then how will revenue tax division learn about my f&o transactions and the place will it replicate @Quicko
Hello @gaurav_choudhary
Since your dealer studies all of the transactions of a selected PAN, the ITD has the info for a similar.