I am full time f&o trader and use only zerodha for trading and mutual fund investments. I could see lot of wrong and duplicate mutual fund purchase and redemption entries on the SFT information on the AIS portal for the current assessment year which makes my transaction value doubled and tripled in some transactions. Most of the entries are duplicate and some of the redemptions are mentioned as short term capital gain, though it is really long term [cross checked with zerodha’s statement]. Last year also, I had these kind of entries, but didn’t cared, they are shaded as inactive now. Does it have anything to do with my tax filing? my form 26AS doesn’t show any information regarding high value transaction. Do i need to worry about these wrong entries in SFT information.
I know the feeling! You need to check every entry & request for corrections wherever they are wrong. It happened last year & I sat for a whole backbreaking weekend doing just this… In my case, principal amount redemptions were also reflecting as interest. They are saying onus is on us to cross-check AIS every quarter and correct entries wherever needed. BMKJ!
While filing ITR, it picks up data from AIS. so yes, you do need to worry about wrong entries & sort them out.
It is a battle. Wish you good luck!
It is important to address these discrepancies as they can indeed have an impact on your tax filing. Incorrect transaction values and duplicates can lead to an inaccurate calculation of your tax liability.
You should review each entry and identify the ones that are incorrect and submit feedback.
Here are the reasons for discrepancies in the AIS data and the Trading data and here’s how you can submit feedback to rectify the transaction in order to avoid any potential discrepancies in your tax filing.