Which is correct capital gain amount?

Taxation
1

I am salaried person and have Zerodha equity delivery account and invest in short term only and now i am going to fill ITR of FY 2021-22 but I am confused about one thing that what will be my capital gain.

When i checked the tax p&l statement of kite app of zerodha then there is 43,454 short term profit showing but my CA is calculating capital gain from AIS statement of income tax website actually there are two options given 1. Sale of securities and units of mutual fund 2. Purchase of securities and units of mutual fund. He is subtracting " Sale of securities and units of mutual fund - Purchase of securities and units of mutual fund = capital gain (79000).

Q1. Which amount will be capital gain: 43454 or 79000 ?

Q2. I do not invest in Mutual Fund then why mutual fund word is coming in AIS statement on IT portal.

IMG-20220710-WA0007(2)
IMG-20220710-WA0007(2)1599×899 90 KB

1 Like
2
  1. Did you check the P&L in the KITE app for the last FY? You can also cross check the purchase/sale value from TIS with Kite app to see where the discrepancy is.
  2. TIS just clubs all the securities and mutual funds under one head. So, even if you purchased/sold only stocks, it’ll still show up under Securities and Units of Mutual funds.
3

Anyone else ?

4

When you double click on entries in AIS, it opens up further and gives you name of stocks/ mutual fund in which you have purchase or sale transaction. Match these with Zerodha Statements. Minor difference is there for everyone due to different calculation method adopted by IT Deptt. But atleats name of shares/mutual Fund should match. If names match, you can ignore AIS and file the return as per Zerodha statement. If it is entirely different then that is some wrong entry .

5

Many have complained that AIS has incomplete data so dont take that as the single source.
Even TDS is being reported incorrectly.

Z pnl is accurate. And you can get similar data from other brokers / AMC etc if you trade there as well.