If I do futute trading then cash settlement is on daily basis or on the end date of the expiry of trading?

There is daily settlement known as mark-to-market (MTM) settlement based on the closing price and the difference is credited/debit to/from one’s account. But the final cash settlement happens on expiry date or when one closes the position.

Check this link for details -

http://www.nseindia.com/products/content/derivatives/equities/settlement_mechanism.htm

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When you do trading in futures, from T day there will be a Mark-to-Market settlement based on the execution price (Buy/Sell) & day’s closing price. Next day your execution price will be previous day’s closing price, from this price again Mark-to-Market calculated till you square-off the position.

  So, based on the MTM your trading account will be credited or debited. Once you square-off position final settlement is done based on the difference between the previous day's closing price & the execution price i.e Final Mark-to-Market settlement.
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