Short Capital Gain Tax V/s Intra day Tax

Whether day trading is considered as short term trading and the same tax rate is applicable?What about the short term capital gains on profit made by me on intraday trading in stocks ?
How and when would i have to pay the short term capital gains. Is it allowed to deduct the STT paid, broker charges and AMC charges from my tax liability?

NO there is difference between the two day trading is considered as speculative income and you have to pay more on day trading as compared to short term gains.Share Trading is not speculation but Day Trading Square off the transaction in same day in Shares in speculation.Profit from delivery transactions and derivative trades is Non-speculative while profit or loss from jobbing is speculative in nature.Intraday trading in Cash segment is deemed as speculation, same as lottery or betting on horse racing.The tax rate applicable on profits from speculation income is flat 30%.

For calculating income-tax on short-term capital gain of listed securities, you are governed by section 111A of the Income-tax Act, 1961. Section 111A of the Income tax Act provides that those equity shares or equity oriented funds which have been sold in a stock exchange and securities transaction tax is chargeable on such transaction of sale then the short term capital gain arising from such transaction will be chargeable to tax

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