Taxation of Off market credit transactions of listed shares

Vaidhyanathan R (3 Points)

29 June 2024  

Hi Everyone, 

I transferred some shares (held for more than 2+ years) from my old demat account to my new demat account. In AIS, I see them as "Off market Credit" transactions. "Cost of acquisition" is considered as zero and hence the whole value of "sale consideration" is added to my short term gains. 

Even though my new demat account's tax PnL statement shows correct cost of acquisition and holding period, the AIS doesn't show this. 

Even if I submit AIS feedback, it is not accepted. 

I acquired these shares in my old demat through normal Market buying but the details got screwed up when I transferred them. 

How can I fix this problem ? 

Thanks,

Vaidhya