how to calculate capital gain or loss in mutual funds

As he sold Mutual funds in march 2014 as First batch of sale, MF purchased till March 2013 since 2007 year would be Long term and any gain on this transaction is exemped if it is equity orientd MF ( held for morethan 12 months).The MF which is bought from March 2013 till march 2014 ( held for a period of less than 12 months) , any gain on such sale wolud be short term capital gains. Long term capital gains are exempted and short term capital gains are taxable along with income from other heads.

In equity mutual funds or stocks which is held more than 12 months are considered a long-term capital asset and the profit arises on a sale of these assets are called as long-term capital gain. Govt. introduced in BUDGET 2018 LTCG TAX of 10% if the gain exceeds Rs 100,000 without allowing the benefit of indexation.

However, all gains until 31st January 2018 will be grandfathered and short-term capital gains remain unchanged at 15 percent.
For example, If the equity share/mutual fund is purchased 6 months before 31st Jan 2018 (i.e. 31st July 2017) at Rs 10,000 and the highest price quoted on 31st Jan 2018 is Rs 12000. There will be no tax on the sale if the stock or fund sold after 1 year.
However, any gains in excess of Rs 2000 earned after 31st Jan 2018 will be taxed at 10% if this share /Mutual fund(equity) is sold after 31st July 2018.

Till now any long-term capital gain generated (if you sold equity/equity Mutual fund after 1 years of holding) were exempt from tax in the hands of individual’s hand. Budget 2018 proposes to levy a 10% tax plus education and health cess (health education cess introduced this year in finance bill 2018, earlier education cess was 3% but now it is revised to 4%) on these gains.

Source :- BUDGET 2018 LTCG TAX OF 10% ON STOCKS AND MUTUAL FUNDS