Tax calculation in intra-day trading

Hi traderjies....!

As for as my concern the tax calculation in intra-day trading is as follows,

if the profit earned in day trading is approximately 10k/month, then for 1 year it is 1.2L/year.

intra day trading is considered as a speculative business. so the tax for 'income from other business' is 30% and the tax exemption is 1L. so in our case the taxable amount is (1.2L-1L)=20k, 30% of 20k is 6k..

my doubt is.. whether my calculation, consideration on tax is right or not?

i need clarification on that, kindly am expecting the favorable answers regarding this..


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