Experts, I am planning to be a full time trader, means proprietary trading using my own capital only. Not planning any person to be employed for. Only self will be trading.
For that, do I need the shop act license or any other requirements so that I can show my expenses occurred and have some taxation benefit.
Not necessary to register business/GST, you can file ITR-3 for personal trading “business” and claim trading related expenses (internet, brokerage, GST, STT) and depreciation (laptop).
The taxation module on varsity explains everything in detail: