The disclosure relates to a pre-5th-Generation (5G) or 5G communication system to be provided for supporting higher data rates Beyond 4th-Generation (4G) communication system, such as Long Term Evolution (LTE). The disclosure is to transmit or receive data and control information in a wireless communication system. A method for operating a terminal includes receiving indication on limited-buffer rate-matching (LBRM) from a base station, acquiring at least one parameter required in order to perform the LBRM, determining a limited range of parity bits for the LBRM based on the at least one parameter, and transmitting or receiving data based on the limited range.