I have done both long term and short term delivery based trades in the last FY (2022-23). My AIS shows a lot of entries with zero cost of acquisition and many with “off market” classification for long term capital gains. Due to this, the long term capital gains in the AIS is many multiples of what the real amount is. All these stocks were bought only in Zerodha and sold only in Zerodha over the last few years (no transfers from elsewhere, no off market transactions on the demat account, no other broker account used).
The AIS has nearly 400 entries, and those don’t match with Zerodha’s Tax P&L Report, which shows at the exchange trade level and has more than 1000 entries. The AIS Utility does not allow removing entries and adding them. One can only modify one entry at a time.
Does Zerodha provide this information to CBDT or is it both Zerodha and CDSL or only CDSL (for selling stocks)? Where has my mess originated?
What is anyone supposed to do in such a situation? Should I even bother with AIS?
The amount shown as capital gains is really huge, and I’m worried that this may cause more issues with the tax returns processing. If anyone else has seen something similar recently, please suggest what can be done. Thank you.