--- title: "AIS, TIS & ITR: Reconciling Your Capital Gains" description: "Annual Information Statement (AIS) vs Taxpayer Information Summary (TIS), how to read and reconcile with your broker statements, ITR-2 filing." source_url: "https://www.rupeecase.com/learn/path-11/module-11-5-ais-tis-and-itr-reconciling-your-capital-gains" --- [Path 11 5 of 6](/learn/path-11/)AIS, TIS & ITR: Reconciling Your Capital Gains[Next 11.6](/learn/path-11/module-11-6-tax-efficient-portfolio-construction) Every July the tax portal greets you with a return that is already half filled. Your sales are there, your dividends are there, your interest is there. It is tempting to click through. Do not. The pre filled numbers come from what brokers, depositories and fund houses report, and those reports often miss the one figure that decides your tax: what you paid. One evening of reconciliation can be the best paid hour of your year. **2021**Year the Annual Information Statement went live on the e-filing portal CBDT, Nov 2021 **31**July: the due date for ITR-1 and ITR-2 filers; non-audit business cases such as F&O traders get 31 August from tax year 2026-27 Finance Act 2026 **48**Months allowed to file an updated return, from the Finance Act 2025 Updated return, ITR-U **12**Months: the line between 20% and 12.5% on listed equity Since 23 Jul 2024 ## What are AIS and TIS? The **Annual Information Statement** is the tax department's record of what third parties reported about you in a financial year. Since November 2021 it sits on the e-filing portal next to Form 26AS, which still shows tax deducted and collected at source. AIS goes much further: sales of shares and fund units, dividends, interest, large purchases and other specified financial transactions. The **Taxpayer Information Summary** is the same data rolled up by category: salary, interest, dividends, sale of securities, and so on. The portal uses TIS to pre fill your return. ### Where AIS data comes from * Stock exchanges and depositories, through your broker: sales of shares and ETF units, corporate actions. * Mutual fund registrars: redemptions, switches and IDCW. * Banks and post offices: interest, deposits, cash transactions. * Companies: dividends paid, with TDS. * Others: property registrations, foreign remittances, large card spends. ### What it does not know AIS knows what you sold and for how much. It often does not know what you paid, when you really bought, whether a bonus or split changed your cost per share, or whether the 2018 grandfathering applies. Those gaps are yours to fill. **Myth**If the portal pre fills my capital gains, they must be right. **Fact**Pre filled gains come from reported sale values. Missing costs, bonus adjustments and grandfathering are common gaps, and they usually push your gain, and your tax, up. ## Reading your AIS: the securities section ### What each line shows * **Sale value:** what you received. Almost always present. * **Cost of acquisition:** what you paid. Often blank or wrong. * **Dates and holding period:** sometimes present, sometimes based on settlement rather than trade date. * **Gain:** sale value minus cost. If cost is blank, the "gain" is the whole sale value. **Worked example.** You sell shares for ₹1,00,000 that cost ₹65,000. If the cost field is blank, a careless return reports a ₹1,00,000 gain instead of ₹35,000. At 20% short term, that is ₹20,000 of tax instead of ₹7,000. ### Common AIS errors * **Missing cost.** The single biggest source of overstated gains. * **Bonus and split not adjusted.** After a 1:1 bonus, the cost per share halves across old and new shares; a feed that ignores this shows the bonus shares at zero cost. * **Lot order.** Demat sales follow first in, first out. A feed that matches the wrong lot gets both cost and holding period wrong. * **Off market transfers.** A gift to family can appear as a sale. * **Duplicates.** The same sale reported twice, or by two sources. For each wrong line, AIS has a feedback option: you can mark information as incorrect, duplicate, belonging to someone else, or give the correct value. The reporting source is then asked to confirm or correct it. Feedback does not change your return automatically, but it puts your position on record. ## TIS: the aggregated view Because TIS adds up AIS, every error above flows into the totals that pre fill your return. Treat TIS as a checklist of what the department knows, not as the answer. If your return differs from TIS because you corrected a cost, that is fine; keep the evidence. ## Reconciliation: step by step 1. **Give AIS feedback, then file**Report your reconciled figures, not the pre filled ones, and keep the workings. 2. **Give AIS feedback, then file**Report your reconciled figures, not the pre filled ones, and keep the workings. 3. **Give AIS feedback, then file**Report your reconciled figures, not the pre filled ones, and keep the workings. 4. **Give AIS feedback, then file**Report your reconciled figures, not the pre filled ones, and keep the workings. 5. **Give AIS feedback, then file**Report your reconciled figures, not the pre filled ones, and keep the workings. 6. **Give AIS feedback, then file**Report your reconciled figures, not the pre filled ones, and keep the workings. 7. **Give AIS feedback, then file**Report your reconciled figures, not the pre filled ones, and keep the workings. ### Mutual fund redemptions With SIPs, every instalment is a separate lot with its own cost and date. Redemptions use the oldest units first. Your fund's capital gains statement does this matching for you; compare its totals with AIS scheme by scheme. ### Grandfathering For listed shares and equity fund units bought on or before 31 January 2018, the cost for long term gains is the higher of your actual cost and the lower of the 31 January 2018 value and your sale price. AIS does not apply this. The return asks for these holdings scrip by scrip in Schedule 112A, with the 2018 value. How ₹3.5 lakh of phantom gain can hide in a pre filled return Illustration: where reported gain of ₹14.7 lakh differs from the true ₹11.2 lakh 1. Wrong holding periods**₹15,000** 2. Wrong holding periods**₹15,000** 3. Wrong holding periods**₹15,000** 4. Wrong holding periods**₹15,000** Illustration, not a real taxpayer. If all of it were long term gain, filing the pre filled figure would overpay ₹43,750 before cess. ## Filing the return ### Which form * **ITR-2:** capital gains with no business income. * **ITR-3:** if you also have business income, including F&O or intraday trading. From tax year 2026-27 the due date for non-audit business cases is 31 August, against 31 July for ITR-2. ### Schedule CG and Schedule 112A Short term gains on listed equity go in the section 111A rows at 20%; long term equity gains in the section 112A rows at 12.5% above ₹1.25 lakh. For income earned up to 31 March 2026 these are still the 1961 Act sections. From tax year 2026-27 the same rates sit in sections 196 and 198 of the Income-tax Act, 2025, and the forms will follow the new numbering. One quirk applies only to the year 2024-25: because the rates changed on 23 July 2024, that year's return asked for gains split into before and after that date. For 2025-26 and later the whole year is at the new rates. ### Losses Capital losses carry forward for 8 years only if the return for the loss year is filed by the due date. A late return keeps the tax computation but loses that right. If you discover an error after filing, you can revise the return before the year's deadline, and the updated return route now stays open for up to 48 months, with extra tax payable. ## Tools for reconciliation Your broker's capital gains or tax profit and loss report is the most reliable starting point: it comes from the same source that reported to the department and carries costs, dates and lots. Fund registrars provide a consolidated capital gains statement across fund houses. A spreadsheet with one row per sale, AIS on the left and the broker on the right, and a difference column, is all the software most people need. If you use a tax professional, give them the broker report, not just the AIS. Ask how they treated bonus shares and grandfathered holdings. A good one will ask you first. ## Common mistakes * **Accepting a blank cost.** It turns the whole sale value into gain. * **Ignoring bonus and split adjustments.** * **Filing after the due date** and losing loss carry forward. * **Leaving out a sale AIS missed.** It still has to be reported. * **Mixing F&O into Schedule CG.** It is business income and needs ITR-3. ## How this shows up in RupeeCase When you invest through a RupeeCase index, every trade happens in your own demat through your own broker, so your broker's capital gains report is the record for tax. The terminal keeps a ledger of money in, money out and charges for each portfolio, which helps you tie the broker numbers back to each rebalance. For an index that rebalances every two weeks, like [Smallcap](/strategies/smallcap), expect many short term lines at year end and plan the reconciliation evening accordingly. Holdings, cost and weights per portfolio, on sample data. Your broker's capital gains report remains the record for tax. ## Questions people ask me Is AIS the same as Form 26AS?No. Form 26AS still shows tax deducted and collected at source and some other items. AIS, introduced in November 2021, is much wider and lists sales of securities, dividends, interest and other reported transactions. What if my AIS shows a sale with zero cost?Report the correct cost from your broker's statement or contract note in your return, and submit feedback on that AIS line. Keep the documents in case you are asked. I found an error after filing. What can I do?Revise the return before the year's revision deadline. After that, an updated return can be filed within 48 months under the Finance Act 2025, with additional tax. ## What to remember * AIS lists what was reported; it often lacks your cost. * Reconcile every sale against your broker's capital gains report. * Adjust for bonuses, splits and 2018 grandfathering yourself. * File by the due date to keep losses alive for 8 years. * F&O and intraday go in ITR-3, not in capital gains. Rules and figures in this module were last verified on 12 Oct 2026. Tax and regulatory rules change; check the source before acting. What does AIS, TIS & ITR: Reconciling Your Capital Gains cover?In FY2024, my Annual Information Statement (AIS) showed ₹14.7L in equity capital gains. My actual gains were ₹11.2L. The ₹3.5L difference? AIS doesn't account for your acquisition cost correctly in 37% of cases. If I had filed without reconciling, I'd have overpaid ₹43,750 in taxes. This module walks you through reading AIS and TIS, matching against your broker statement, and filing ITR-2 with the correct capital gains figures, the technical work that actually protects your money. It works through What are AIS and TIS?, Reading your AIS: the securities section, TIS: the aggregated view, Reconciliation: step by step and more. It is module 11.5 of Path 11, Tax and Regulatory Framework, about 8 minutes of reading, free. TTry it ## AIS, TIS & ITR: Reconciling Your Capital Gains, in numbers. Match AIS reported gain against your records Your numbers, the module's formula, nothing stored. Calculator ### AIS Reconciliation Helper Quick check whether the gain figure on your AIS matches your broker statement, with adjustment lines for the common drift sources. AIS reported gain (INR)Your broker P&L (INR)Bonus / split adjustment (INR)Buy-back income (INR)Brokerage charged but excluded (INR)STT not included in cost basis (INR) [Full calculator: Tax loss harvesting](/learn/tools/tax-loss-harvesting-calculator) AApply it on RupeeCase ## Allcap Multi Asset 50 stocks, 10% debt, 10% gold. The broad-market engine with a cushion. An index built on the rules this path teaches, multi asset diversification, tax aware, held stock by stock in your own demat. Risk band: Moderate. [See the strategy](/strategies/allcap-multi-asset)[Sign up for RupeeCase](https://invest.rupeecase.com/signup?strategy=allcap-multi-asset) [CAGR40.5%Sharpe1.81Max DD−21.3%Minimum281000Model, back tested, as of 27 Apr 2026. Not client returns, not a promise.](/strategies/allcap-multi-asset) QQuick check ## 10 questions, 7 to pass. Pick an answer and the explanation appears. Your result stays on this device and counts towards the Path 11 certificate. CCheck yourself ## Path 11 so far. Your quick check results on this device, stop by stop. 1. [TPath test, 30 questionsNot yet](/learn/path-11/module-11-6-tax-efficient-portfolio-construction#pathTestSection) 2. [TPath test, 30 questionsNot yet](/learn/path-11/module-11-6-tax-efficient-portfolio-construction#pathTestSection) 3. [TPath test, 30 questionsNot yet](/learn/path-11/module-11-6-tax-efficient-portfolio-construction#pathTestSection) 4. [TPath test, 30 questionsNot yet](/learn/path-11/module-11-6-tax-efficient-portfolio-construction#pathTestSection) 5. [TPath test, 30 questionsNot yet](/learn/path-11/module-11-6-tax-efficient-portfolio-construction#pathTestSection) 6. [TPath test, 30 questionsNot yet](/learn/path-11/module-11-6-tax-efficient-portfolio-construction#pathTestSection) 7. [TPath test, 30 questionsNot yet](/learn/path-11/module-11-6-tax-efficient-portfolio-construction#pathTestSection) Explore next ## Put the module to work. * [GuideCapital gains tax on shares in India: the rules for 2026-27, worked in rupees20% short term, 12.5% long term above ₹1.25 lakh: the rules for 2026-27, in rupees.](/guides/capital-gains-tax-on-shares) * [CalculatorTax loss harvestingFree, with the formula and a worked example](/learn/tools/tax-loss-harvesting-calculator) * [StrategyAllcap Multi Asset strategyNifty Total Market, 52 stocks, every 2 weeks](/strategies/allcap-multi-asset) * [Free module 11.6Tax-Efficient Portfolio Construction8 min read](/learn/path-11/module-11-6-tax-efficient-portfolio-construction) * [Learn guideMacroA pillar guide across the paths](/learn/macro-tax-regulation) Community ## Join my WhatsApp group. Scan the code, fillFill one short form, and join my WhatsApp group. Slides, sources, factsheets and the rebalance logs live there, and members join a daily Google Meet with me. [Sign up for RupeeCase](https://invest.rupeecase.com/signup) [Join the WhatsApp group](https://forms.gle/C6HMtM1Z2GfeocQV7) [One form, one group](https://forms.gle/C6HMtM1Z2GfeocQV7)Scan with your phone camera SSources ## Where the figures come from. 1. [CBDT Circular 768 (2003): FIFO for shares held in demat](https://www.incometaxindia.gov.in) 2. [CBDT Circular 768 (2003): FIFO for shares held in demat](https://www.incometaxindia.gov.in) 3. [CBDT Circular 768 (2003): FIFO for shares held in demat](https://www.incometaxindia.gov.in) 4. [CBDT Circular 768 (2003): FIFO for shares held in demat](https://www.incometaxindia.gov.in) 5. [CBDT Circular 768 (2003): FIFO for shares held in demat](https://www.incometaxindia.gov.in) 6. [CBDT Circular 768 (2003): FIFO for shares held in demat](https://www.incometaxindia.gov.in) GTerms ## 6 terms from this module. AISAnnual Information Statement: the tax department's record of what third parties reported about you in a year, including sales of securities, dividends and interest. TISTaxpayer Information Summary: AIS data totalled by category, used to pre fill your return. Form 26ASThe statement of tax deducted and collected at source. Still issued alongside AIS. Schedule CGThe capital gains schedule of ITR-2 and ITR-3, where short and long term gains and losses are reported. Schedule 112AThe schedule for long term gains on listed equity, with scrip wise details for holdings bought on or before 31 January 2018. Updated returnITR-U: a return filed after the normal deadlines to report missed income, with additional tax. Allowed for up to 48 months since the Finance Act 2025. [All 91 terms in the glossary](/learn/glossary) [From the podcast archiveEP41: Sell The Rally. Wait For The Base. Long Gamma DayThe Tanmay Edge, 18 May 2026, graded 1/5](/podcast/episodes/2026-05-18)[Pillar guideMacro, Tax, Regulation14 modules across paths 7, 11](/learn/macro-tax-regulation) Education only, not investment advice. RupeeCase is a technology platform operated by QC Alpha Technologies Pvt Ltd; it is not a fund, a PMS or a SEBI registered investment adviser. Model returns are back tested and not a promise of future returns. Figures carry the date they were checked.