gunderson500
New member
@jesuslovesme1973 I'm not a tax expert but I've spoken about this to some who are and the view is that FIFO will apply per folio, not across folios. Here's a link to a circular that will hopefully clarify this (tl;dr: jump to 5(b) in the circular): https://www.incometaxindia.gov.in/communications/circular/910110000000000355.htm
If you read the circular, you may notice that it is silent on mutual funds. The applicability to mutual funds can be drawn via another circular: https://www.incometaxindia.gov.in/Communications/Circular/910110000000000282.htm
If you read the circular, you may notice that it is silent on mutual funds. The applicability to mutual funds can be drawn via another circular: https://www.incometaxindia.gov.in/Communications/Circular/910110000000000282.htm