Our broker sold some shares purchased 30 years ago. In the Capital Gains report downloaded from AIS, the FMV value is showing different from what our broker has provided in the Profit Loss statement of share transaction.
Which FMV value should be reported on ITR 2 form?
When faced with a discrepancy between the AIS and broker statement for shares purchased over 30 years ago, you should independently verify the statutory Fair Market Value as of January 31, 2018, report the accurate calculated capital gains in ITR-2 based on tax rules, and maintain a reconciliation statement to account for any differences with the prefilled AIS data.