Income tax from share trading

A resident individual can adjust the basic exemption limit against STCG covered u/s 111A. Firstly, income other than STCG is to be adjusted against the exemption limit and then the remaining limit (if any) can be adjusted against STCG.
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15% X [STCG – (Exempted ceiling – Total income excluding STCG)]
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Hence, if the gain gets adjusted against the balance exemption limit, tax liability will be NIL.
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[The above position is applicable in case such transactions are for the purposes of investment and income/loss arising therefrom is to be computed under the head CG.]