As I’m new in this market I have few queries. Sorry for annoying you with my queries.
I’m a student. And i’m trading right now to learn.
I had a margin of rs 3000 and in cover orders in heat of the moment I executed around 30 orders on first day and 30 orders on second day.
in this process I made a total loss of 1800 rs.
In this cover orders I took leverage of Rs. 18,82,000 on first day and Rs. 5,10,000 on second day.
So my question is
Will it have any impact on my income tax return filing ? Do I have to pay any other tax for using such huge amount of leverage.?
Will it be shown on my Pan Card account ?
And is there any limit of usage of leverage every month ?
Please enlightenment me with any precautions I should take regarding leverage. I’m using stop losses properly and even made a profit of rs 1300 but few trades got out of hand. So please helps.