Hi if I take a script as CNC … example I took 1000 shares of RCom at 10 INR… and let’s consider it has reached 11 INR on same day so I ll sell it on same day … in this case even though I ve taken script as CNC I M selling it on same day . So wat ll be the (tax) charges applicable . It will consider it as MIS or CNC taxes ??
CNC and MIS are just internal ways to demarcate what you intend to hold overnight and intraday. Taxes etc are calculated based on how you trade. If you buy and sell same day, it is an intraday trade and hence all taxes/charges as per that.