Tax exemptions on brokerage ?

Greetings,

Is any tax exemptions on total brokerage paid ?

E.g

Total Profit - 2,00,000
Total Brokerage - 40,000

So should i have to pay tax on full 2,00,000 or only on 1,60,000 ( 2,00,000 - 40,000 = 1,60,000)

Thanks,
Samshell

1,60,000....

You will taxed only on final Profit/Loss after having deducted the Brokerage + Service Tax+ STT + Stamp Duty + Transaction Costs etc.