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In AIS, Is there need to correct the acquistion price for sale of equity shares,(DEPO)

Rajan svr (DGM) (39 Points)

29 June 2024

In the sale of equity shares,(DEPO) in AIS, in all IPOs against the sale, it is indicated that cost of acquisition is 0. Since I have a sold a HNI Lot in many batches, there are multiple entries. For all the IPO allotments and also in cases where it is not able to catch old price, the volume of entries is huge. I have to correct CG in ITR. If IT authorities see CG from sale transaction it may by 3-4 times of the actual CG. Is there need for me to attempt correcting the acquisition price or this is not needed.

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6 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (164485 Points)
Replied 30 June 2024

Need to report them to your RTA of your demat account. Get it rectified there , first.

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Rajan svr (DGM) (39 Points)
Replied 30 June 2024

Thanks for the response. Trading and demat ac is with Motilal Oswal (CDSL) In their CG reports they are correctly indicating all rates which Iam using as the basis for filling ITR CG. I will write to RTA but not sure when this will get rectified and then get reflected in AIS. Can I file return on actual CG and not bother about flagging wrong entries in AIS portal.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (164485 Points)
Replied 30 June 2024

Report it to Motilal Oswal for IPO shares also. If the rates of the shares sold were as per IPO allotment rate, ask them to rectify their SFT reporting, as AIS report is based on these SFT reports.

Meanwhile you may file your ITR based on actual CG, but better to wait for rectification by MO, which may not take more than 4/5 working days.

Rajan svr (DGM) (39 Points)
Replied 30 June 2024

Based on my accounts and accounts from some friends, It appears AIS is getting IPO prices correctly from NSDL while for CDSL it is indicating Zero.

Rajan svr (DGM) (39 Points)
Replied 30 June 2024

Thanks for your prompt reply. I will proceed with filing the ITR after wait of some 10-15 days. Based on my accounts and accounts from some friends, It appears AIS is getting IPO prices correctly from NSDL while for CDSL it is indicating Zero. For CDSL I have checked with at least 4 different RTAs Motilal Oswal, Zerodha, Hem securities etc. and none of the a/c is showing IPO price in the AIS (showing Zero) . For NSDL I have checked NSDL based accounts like HDFC securities, India infoline, all are showing IPO acquisition prices correctly.