How to Compare AIS With Broker Statements?
Compare AIS transaction information with broker statements, tax P&L reports, contract notes, and other investment records. Match transactions carefully so that reported income and capital gains are not omitted or counted twice.
Quick Answer
Compare AIS with broker tax P&L, transaction statements and other investment records. This helps identify omissions, duplicates and differences before calculating the final taxable amount.
Collect the Right Broker Records
Depending on the investments, collect broker tax P&L statements, transaction statements, contract notes, capital-gains reports, and other relevant records for the tax year.
Match Transactions
Compare dates, security identifiers where available, purchase and sale values, transaction descriptions, and the reporting source. Similar entries may represent the same underlying transaction.
Check Capital Gains Separately
AIS may contain information relating to securities and other transactions, but the taxable capital gain or loss must be determined using the applicable tax rules and complete transaction records.
Check F&O and Other Trading Activity
For traders, reconcile the AIS information with broker tax P&L and trading records. Business income, turnover, expenses, and other reporting requirements may require information beyond the AIS entry itself.
Avoid Double Counting
Do not treat every similar AIS and broker entry as separate income. Establish what each entry represents before using it in the return.
Frequently Asked Questions
Is AIS enough to calculate my capital gains?
Not necessarily. Complete transaction and cost information may be required to determine the applicable gain or loss correctly.
Should traders reconcile AIS with broker tax P&L?
Yes. Broker tax P&L and other trading records can provide important details needed for reconciliation and ITR preparation.
Can EZTax work with broker statements?
EZTax supports workflows that can use broker and investment information for tax reconciliation and return preparation, subject to the formats and data provided.
Related EZTax Resources
- What Is AIS (Annual Information Statement) in Income Tax?
- AIS vs Form 26AS: What Is the Difference?
- How to Correct Incorrect Information in AIS
- How to Check AIS Before Filing Your ITR
- AIS Reconciliation and AI-Powered Income Tax Filing with EZTax
Official Source
For current AIS information and taxpayer guidance, refer to the Income Tax Department's AIS resources and FAQ.
