How to reconcile AIS with the PPFAS capital-gains statement for ITR

From WebNotes, a public knowledge base. Last updated 17 May 2026. Reading time ~7 min. Level: Intermediate.

Key facts

Authoritative source	The PPFAS-issued capital-gains statement (signed by CAMS) is the AMC's primary source; AIS is an aggregator that may have gaps
Common mismatches	Missing entries (especially small transactions or recent submissions), date differences (1-2 business days), entity-name variations (PPFAS vs CAMS reporter), duplicate switch entries, threshold-related omissions
AIS feedback options	Information is correct / Information is not correct / Information not pertaining to me / Already declared / Duplicate
ITR position	File ITR using the PPFAS-statement-derived values; AIS feedback can be submitted in parallel and does not block ITR filing

This guide covers reconciling the Annual Information Statement (AIS) entries against the PPFAS Mutual Fund-issued capital-gains statement before filing the Income Tax Return (ITR). The AIS is the Income Tax department’s PAN-aggregated record of financial transactions; the PPFAS capital-gains statement is the AMC’s authoritative source for PPFAS transactions. Mismatches between the two are common and require investigation to determine the correct ITR position.

Step-by-step procedure

Step 1: Download the PPFAS capital-gains statement

Generate the FY-specific capital-gains statement from SelfInvest. The statement contains all PPFAS taxable events for the FY broken down by tax section.

Step 2: Download the AIS for the same FY

Download the AIS PDF (or JSON for tax-software import) from the Income Tax e-filing portal. The AIS aggregates SFT submissions from PPFAS / CAMS and other entities.

Open the AIS PDF and search for Parag Parikh, PPFAS, or CAMS (since CAMS as the RTA may appear as the reporting entity name). For each match, note:

Section of the AIS (SFT-031, SFT-018, TDS Section 194K, etc.).
Transaction type (redemption, IDCW, etc.).
Amount.
Date.
Reporting entity name.

Compile these into a reconciliation spreadsheet with columns: AIS Entry ID, Section, Type, Amount, Date, Entity.

Step 4: List PPFAS statement entries

From the PPFAS capital-gains statement, extract every transaction:

Section 112A LTCG entries: Sale value, cost, LTCG.
Section 111A STCG entries: Sale value, cost, STCG.
Slab-rate STCG (post Finance Act 2023 debt-MF): Sale value, cost, gain.
IDCW distributions: Gross amount, TDS deducted.
Switch transactions: Both source-leg redemption and destination-leg purchase.

Compile into a separate column or rows in the same reconciliation spreadsheet.

Step 5: Match each PPFAS-statement entry against an AIS entry

For each row in the PPFAS statement, attempt to find a matching AIS entry. Matching criteria:

Date: Within +/- 2 business days (allowing for reporting-cycle timing differences).
Amount: Within Rs 1 (allowing for rounding differences).
Scheme/ISIN: Same scheme name or ISIN.

Tag each row in the reconciliation worksheet:

Matched (M): PPFAS-statement entry has a corresponding AIS entry that matches.
Mismatched (X): PPFAS-statement entry has an AIS entry, but the amount, date, or scheme differs.
Missing in AIS (~): PPFAS-statement entry has no corresponding AIS entry.
AIS entry without PPFAS statement match (A-only): AIS has an entry that does not map to any PPFAS statement row (unusual; may indicate duplicate reporting or misattribution).

Step 6: Identify mismatches and missing entries

Common patterns:

Missing in AIS (most common): Small transactions (below the SFT reporting threshold, typically Rs 10 lakh for SFT-031) may not appear. This does not change the taxability; report based on the PPFAS statement.
Recent FY-end transactions: Transactions in late March may not yet appear in the AIS as of mid-April. The AIS is updated periodically; check again in May or June.
Date mismatch (1-2 business days): Common timing difference; not material.
Amount rounding: AMC reports may round; PPFAS statement reports to exact paise. Rs 1 difference is acceptable.
Switch transactions appearing as duplicates: A PPFCF-to-Liquid switch is reported by PPFAS as one redemption and one purchase. The AIS may show both; this is correct, not a duplicate.
TDS Section 194K entries on Liquid Fund IDCW above Rs 5,000: The AIS captures these; verify against Form 26AS TDS column.
Pre-1-April-2023 debt-MF redemptions (still under indexation): AIS may report gross sale value without breaking out indexed cost. The PPFAS statement’s indexed-LTCG computation prevails for tax.

Step 7: Submit AIS feedback for mismatches

For each mismatch or duplicate in the AIS:

In the AIS PDF or portal, click on the entry.
Choose the appropriate feedback option:
- Information is correct: No change needed.
- Information is not correct: Amount/date/scheme is wrong; provide correct details.
- Information not pertaining to me: The entry is incorrectly attributed to your PAN.
- Already declared: The entry is correct but is duplicate-reported by multiple sources.
- Duplicate: Specifically for duplicate entries.
Submit the feedback. The Income Tax department reviews and updates the AIS, typically within 30 to 60 days.

Note: AIS feedback does not block ITR filing. File the ITR with the correct (PPFAS-statement-derived) values; the AIS will be updated in parallel.

Step 8: Use the reconciled data for ITR filing

When filling Schedule CG (or Schedule OS for IDCW), use the PPFAS-statement-derived values, not necessarily the AIS pre-fill values, if they differ. The PPFAS statement is the AMC’s authoritative source.

The ITR e-filing portal allows overrides of the pre-filled values. Document the reasons for any override in the reconciliation worksheet (kept for personal records; not submitted with the ITR).

If the AIS shows a transaction that the PPFAS statement does not contain (an A-only entry), investigate:

Is the entry truly attributable to the investor’s PAN? If not, submit AIS feedback as “Information not pertaining to me.”
Is the entry a switch destination leg that the PPFAS statement captures as a separate purchase? Verify.
Is the entry from a different AMC or source that simply appears next to PPFAS entries due to name similarity?

What can go wrong

AIS-statement mismatch panic: Common mismatches are typically benign (date differences, amount rounding, below-threshold omissions). Do not assume mismatches indicate tax-evasion risk. Investigate calmly and use the PPFAS statement as the authoritative source.
AIS feedback not propagating in time for ITR: AIS updates can take 30 to 60 days. The ITR can be filed before the AIS is updated; use the PPFAS-statement values.
Tax-software auto-import without reconciliation: Tax software (ClearTax, Quicko) auto-imports from AIS JSON. Without reconciliation, the software may carry forward AIS errors. Always reconcile before relying on auto-import.
Multiple AMC PANs: AIS aggregates across all AMC submissions for the investor’s PAN. Reconcile the PPFAS portion separately from other AMCs.
Switch transactions confused with separate purchases: A switch within PPFAS creates one source-leg redemption (taxable) and one destination-leg purchase (not taxable). The AIS may show both as separate entries; the destination-leg purchase should not be treated as a fresh investment to be tax-deducted.
Form 26AS TDS does not reconcile with PPFAS-statement TDS: Form 26AS is the AMC’s TDS submission; the PPFAS statement should match within rounding. Material differences require investigation with PPFAS customer service.
Reconciliation timing: Best done in late June or early July, after most AMCs have completed their SFT submissions for the just-completed FY. Earlier reconciliation may produce incomplete AIS data.
Reconciliation across multiple FYs: For revised returns, separate reconciliation per FY is needed. The carry-forward of unused losses depends on accurate prior-FY entries.
NRI reconciliation considerations: NRIs face additional complications with foreign-source income and Section 196A TDS at higher rates. AIS reconciliation captures only India-source items; full NRI ITR requires additional foreign-source data.
Reliance on AIS over PPFAS statement is wrong: Some investors mistakenly rely on AIS as definitive. The AIS is an aggregator; the AMC statement is the source. AIS gaps and errors are corrected via feedback, not by adjusting the ITR to match AIS.

Worked reconciliation example

Investor’s PPFCF holdings, FY 2025-26:

5 February 2026: Redeemed 200 PPFCF units at NAV Rs 80. Sale value Rs 16,000. PPFAS statement: cost basis Rs 8,000 (post-31-Jan-2018 acquisition); LTCG Rs 8,000.
10 March 2026: IDCW of Rs 6,000 from PPFCF IDCW Payout option. TDS Rs 600 deducted under Section 194K.

AIS shows for FY 2025-26:

SFT-031 entry: PPFCF redemption, Rs 16,000, 5 February 2026, reported by CAMS Computer Age Management Services.
SFT-018 entry: PPFCF dividend, Rs 6,000, 10 March 2026, reported by CAMS.
TDS Section 194K: PPFAS Mutual Fund deductor, Rs 600.

Reconciliation:

PPFAS Statement Item	AIS Entry	Match Status
5 Feb 2026 redemption Rs 16,000	SFT-031 Rs 16,000 (CAMS)	Matched
10 Mar 2026 IDCW Rs 6,000	SFT-018 Rs 6,000 (CAMS)	Matched
TDS Rs 600 (PPFAS deductor)	TDS Rs 600	Matched

No mismatches. ITR filing proceeds with the PPFAS-statement values:

Schedule 112A: Rs 8,000 LTCG.
Schedule OS: Rs 6,000 IDCW (gross).
Schedule TDS: Rs 600 TDS credit.

The reconciliation took 10 minutes and confirmed the AIS pre-fill accuracy. The ITR is filed with confidence.

In a contrasting scenario where the AIS shows Rs 14,000 (instead of Rs 16,000) for the redemption (due to an AMC reporting error), the investor:

Files the ITR using Rs 16,000 (PPFAS statement is authoritative).
Submits AIS feedback: “Information is not correct, actual amount is Rs 16,000.”
The Income Tax department updates the AIS in 30 to 60 days.

How to download AIS and TIS for PPFAS reconciliation is the prerequisite for the AIS source
How to download a PPFAS capital-gains statement for ITR is the prerequisite for the PPFAS source
How to file Schedule 112A in ITR for PPFAS LTCG uses the reconciled data
How to file STCG in ITR for PPFAS equity-scheme STCG uses the reconciled data
How to report PPFAS IDCW receipts in ITR uses the reconciled IDCW data
How to compute slab-rate tax on PPFAS Liquid Fund uses the post-2023 debt-MF data

External references

References

Income Tax e-filing portal AIS feedback documentation.
CBDT Notification on SFT framework and AIS.
Income Tax Act, 1961, Section 285BA (SFT reporting requirement).
CBDT Circular on AIS and TIS implementation.
PPFAS Mutual Fund, Scheme Information Documents.
SEBI Master Circular for Mutual Funds, 22 May 2024.
CAMS Investor Services SFT-reporting documentation.
AMFI industry framework on SFT reporting.
PPFAS investor desk FAQ at amc.ppfas.com/faqs/.
CBDT clarifications on AIS feedback and ITR reconciliation.

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WebNotes Editorial Team

The WebNotes Editorial Team covers Indian capital markets, payments infrastructure and retail investor procedures. Every article is fact-checked against primary sources, principally SEBI circulars and master directions, NPCI specifications and the official support documentation published by the intermediary in question. Drafts go through a second-pair-of-eyes review and a separate compliance read before publication, and revisions are tracked against the SEBI and NPCI rule changes referenced in the methodology section.

Last reviewed: 17 May 2026
Conflicts of interest: WebNotes is independent. No relationship with any broker, registrar or bank named in this article.