taxes on capital gains on commodity trading for trades squared off within a week?

i am new in trading,
how much tax is lieved for trades squared off within a week?
is it considered speculative earnings (where losses cannot be cut with profits for tax savings)? and does the general tax slab rates applies on it?

thank you

Commodities are all Futures, so rules of Future trading is applied here. Its considered as Business Income and will be taxed as per your tax slab.
You can carry forward losses to the next year if you report it in your ITR, otherwise consider it gone and start with new year.

Also check this out
http://zerodha.com/z-connect/traders-zone/taxation-for-traders/taxation-simplified

Tx on profit is not based on weekly..it;s yearly..


just expressing my view

to be honest we already get slaughter in CTT Stamp duty etc ect tax. there lust is not satisfied by that.
they even want to tax u in imaginary profit that u momentary gained lool

so there is no respect for losses we incurr.. Why not have a rule don;t pay tax on profit for 2 yrs and consider tax gone.

who am i kidding it;s stupid to think we be in profit after 2 yrs of trading as we are figting the fed that has Multi billions dollar and they control price we don;t.

it;s just matter of months we fall in traps and get in loss.
I haven;t met a trader that has 2 years continue profit with capital say less then 5 lakhs not in mcx at least....

Gold price 25600 imagine guy who shorted at this price now price went back to 27200 high ... account got hitted lool
he invest another money buys at 27000 price went down to 26000
lool
it;s traps then again greece news come gold back to path of 2700

they magically confuse you bearish crab completed and now
saying Bullish shark is n progress True story of gold .

then dost mere, if one can not read a chart properly, toh kisi doctor ne kaha hai ki commodities mein trade karo, sehat achchhi karne ke liye
Only expressing my views

Well the rule has deep implications, 8% rule is to some extent fair, but I dont like the audit part for losses, but that too is justified.

First you want to get relaxation, nice thought, but see the other side of coin, this relaxation will be used by many big players to evade taxes. they simply make fake losses and transfer a good amount from profit making account to some dummy loss making account and there will be no tax generated at all.
Now for retailers its good that they can carry forward losses but accounting costs are too much which dont make it viable for most of the traders. Coz again many big players simply can show many expenses which can dwarf 2-3 lacs of profit again it will hamper tax collection that's why the rule for the audit of losses comes in play. To simply put India is not a place for retail traders. One needs substantially big capital to survive, or just make under 2lac profit and stay happy forget about costs incurred.
Just my views on tax matter.