Calculating tax when there are many portfolios of same fund??

Shashank Kumar (4 Points)

21 September 2020  

Hi

I have done a lot of research on this topic but I couldn't find anything so I am turning to this forum of professionals.

thing is that I have 2-3 portfolios of exactly the same fund for most of my mutual funds in which I invested, since I used two apps for investing last FY. 

Now consider this case:

I have 2 folios for axis bluechip fund - regular growth

folio 1: 200 units purchased sep2018

folio 2: 500 units purchased Mar2019

Now I redeemed 100 units from folio 2 (since I redeemed from app 2) on Oct2019. Now for tax purpose we consider that units will be exhausted using FIFO but if we consider both folio as identical then 100 units will be consumed from folio 1 and gain will be considered long term equity gain but if both folios are considered different for tax purposes then units will be exhausted from folio 2 and gain will be considered as short term equity gain.

So, I need your help figuring out how to calculate gain in such cases and How to apply FIFO here??

Thanks