Important Advisory on AIS imports for ITR Filing

 

Many taxpayers are noticing that the same Mutual Fund redemption/sale is being reported three times under SFT (Specified Financial Transactions) in their AIS.

This has happened because all three major reporting entities – NSDL, CAMS & KFIN have reported the same MF sale individually. While only a single sale actually took place, it now appears as 3x the sale amount in the AIS, creating confusion and inflated capital gains.

This is a classic case of duplicate reporting by different RTAs (Registrar & Transfer Agents) or depositories due to overlapping data-sharing mechanisms.

Caution : Taxpayers and professionals who rely on auto-import of AIS data into their ITR filing software may end up declaring inflated MF redemptions unless they cross-verify with actual mutual fund SOA or broker’ Demat reports.

Reconcile mutual fund sales from Form 26AS + AIS + Statement of Account SOA / Demat Reports.

Avoid filing based on AIS entries, especially in case of Mutual Fund transactions without reconciling.