New to Trading - doubt about tax/charges for Leverage provided by Stock brokers

#1
Hi All

I am new to Stock market and Day Trading.I have a very basic Question .
As we know Stock brokers are giving 20 X ,10 X Leverage to buy more stocks based on capital amount we have in Equity Day Trading (MIS)
My Doubt is , do we need to pay any Tax to government /charges for that leverage amount we are getting from brokers [in Equity Day Trading (MIS)]
I am not asking about the profit from Trading .. My only question is , about Leverage amount provided by brokers .. Because, i am receiving daily sms from NSE/BSE shows traded amount in Rs. lakhs even if traded Just with rs.5000 because of Leverage provided brokers ..

Kindly clarify my doubt ::)
 
#2
As far as I am concerned you should pay taxes only on your earnings when pulled out from market. If you get a bonus from your broker it could be treated also as additional taxable gain as per tax authorities. If you use a leverage that means that you have borrowed the money, it is not your gain
 

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