AIS TIS

It is possible that there could have been switch over from one fund to another fund by your Mutual Fund. You need to check the transactions with your holdings before and after such reported "Sale".

If you have not sell any transaction you dont need to do anything while filing ITR.

On the portal for AIS there is option for submission of remarks so you can submit your remarks that these transaction are not belonging to you

Hello,

This might have appeared due to a switch of investment in units of a mutual fund. It is considered a “transfer" and is therefore liable to capital gains tax, even though there is no realized gain/loss. You need to check if there is any switch. It is required to be reported in the return. 

I hope this answer satisfies your requirements. For a detailed resolution of your query, you can contact us directly at badlaniassociates at Gmail or take a phone consultation.

Regards,

CA Hunny Badlani

Badlani & Associates

Dear Sir,

Hope you are doing well !!

You could have been switch the mutual funds.

Since switching from regular funds to direct mutual funds is considered as a new investment, the switch can attract tax on capital gains. The applicable taxes can also vary depending on the type of capital gains i.e. long-term or short-term capital gains.

It is advisable to take a phone consultation for detailed discussion. 

You should reconcile the figures with broker statements and report the differences on the compliance portal

Hi,

There should be an option to intimate discrepancies in the AIS to income tax department. You can choose that option and intimate about the same.

Please also note that this can also appear if you have switched from one scheme to another.

You must have switched out of some mutual funds that's why it is showing it as such.

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.

Thank you