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

[Ruban]

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 :

 

[lekopan]

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

 

[Kaneab]

Yes, you have to pay some extra fees for trading stocks or currencies. The spread between the ask and bid price is the amount you have to pay to your broker. You also have to pay some commission. You also have to pay some fee in the form of swap.

 

[Zuluhn]

For sure all that is taxable income especially in India, what did you expect, all that hits your account unless you will not provide some real data to that, I hope you do understand all of that, sounds good ? Please do some more research about that.