I found a document which in my opinion is the most comprehensive document on taxation for holders of security. Its starting page 15, under section XI. TAXATION.
The document talks about PMS services provided by PNB - which they dont provide as per Nil Assets reported, but has a very nice writeup on taxation in different scenarios. Aparently dividend stripping and bonus stripping is not allowed for short term holdings.
A must read in my opinion https://www.principalindia.com/Uploads/Downloads/Disclosure_Document_-_March_2017.pdf