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IndiaTax & ComplianceUpdated: Sep 13, 2026
Direct Answer
Mutual fund sales in AIS represent the gross redemption value. Your bank statement shows the net amount after deducting STT, exit loads, and applicable TDS. You must declare the gross amount for Capital Gains calculation and claim the exit load as a transfer expense.
Understanding the AIS Value
Under SFT-017, AMCs and depositories report the sale of mutual funds and securities. The value reported is the gross consideration.
The Bank Statement Reality
When you redeem a mutual fund, the AMC deducts:
- Exit Load: If redeemed before a specific period.
- Securities Transaction Tax (STT): For equity-oriented funds.
- TDS: Applicable for NRIs or specific dividend plans.
Because of these deductions, the bank credit will be lower than the AIS value.
Tax Filing Strategy
- Do not simply use the bank credit amount as your sale consideration.
- Use the AIS gross value as the 'Full Value of Consideration' in Schedule CG.
- Deduct exit loads and brokerage under 'Expenses wholly and exclusively in connection with transfer'. Note: STT is not allowed as a deduction for Capital Gains.