Suppose I hold 100 shares of Company X at 100.It is bought less than a year ago.(STCG)
Suppose today I trade like this.
1.Sell 100 at 125.
2.Buy 100 at 115
3.Sell 100 at 114.
Then today,which 2 tansactions I should considered as intraday.and other one as Short term.??
If I consider 1 & 2 as Int.Day,then it will be 1000 profit(Speculative)
If I consider 2 &3 as Int. Day ,then it will be 100 loss(Speculative)
Which is correct??
Quiet tricky 
If I were you, I would consider trades in the series that it has happened. So I’d consider 1 & 2 as an an Intraday trade, consider a speculative gain of Rs.1000.
Considering the fact that you’ve taken 1&2 as one trade, your Short term capital gain will now have to be earmarked against the sale made at 114 and you pay tax on STCG of Rs.1400. If you had considered 2&3 as one trade, your STCG would have to be earmarked to the first trade which would result in a gain of Rs.2500.
Nonetheless, you end up paying taxes for making profits
If you have declared yourself as a trader, then no matter what, you have to show all your profits as business income which will be taxed according to your tax slab. Where as you can only show profits as STCG only if you have declared yourself as an Investor (i.e. you do only a limited transactions per year, which you can justify as not trades, but rather as investments). In that case only can you take benefit of STCG’s 15% tax rate.
But now according to the new circular which IT Dept. came out on 28th feb.2016 you can be both : A trader as well as an Invester. So for that you’ll have to show all your equity transactions either as capital gains or stock in trade irrespective of the no.of trades or the period held. Whatever instance you choose, you have to stick with it in the subsequent years also.
if u find a stock and u found that can be taken for long ,u can intraday it every dip so that if the stock goes down u can hold and enjoy the long.if not and u are in profit its ez to trade.
STCG is only 15 % & Spec is 30 % tax.
In Case1 , it will be 210 +300=510
In Case 2 it will be 375 -30=345