Income Tax calculation

Can anyone explain STCG calculations in case of stocks?

For example if someone bought & sold different stocks in the following manner will he/she have to pay tax for gained stock.

Stock 1 loss Rs 2000
Stock 2 gain Rs 1000
Stock 3 gain Rs 500

Note: in all the above case shares were sold within 1 year of purchase.

@BishyIPO there is a NET loss of 500 which is not taxable in the current year and this can be either set off wiith other LONG term CAPITAL GAIN/ SHORT TERM CAPITAL GAIN of the same year from other sources…feel free to revert in case you need any more clarification…

simplifying taxes by NIthin kamat…grt resource…refer it.

Hey @anuj I am a student.
I am a very active Intraday Trader.
I trade in mostly Equity & Futures.

I don’t have any source of income all I trade with the pocket money which I get from my father and Sometimes trade with the Profits with I have Earned from Intraday Trades.

Now, I have a question I will receive any notice from my state Income tax Department???

@Lets_Invest If you intended to do it as investment then there is no need until you reach 2.5L in a year in SHORT TERM INVESTMENTS , however if you go for TRADING and do many sale/purchase then do a total of all yur sale of such short term investment and he it crosses beyond 1 crore then AUDIT is required…further if you choose to declare 6% of yur total turnover (sale value) as taxable profit then this audit limit can go upto 2 crores…one thing to remember in case you do trading (i.e. as business) then you need to maintain books of account which is compulsory for those are having 1.5 L or more income or 10L turnover in a year…

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Thank you for Information.
I’ll check out all the data in Q.

I have purchased 10 shares in tcs for Rs 1718 in june 2017 and 10 more shares in sep 2020 for Rs 2484.Then I sold 5 shares in feb 2021 for Rs 2993 .How do you calculate my LTCG/STCG liability?