Tax calculation for share trading

Loss from intraday will be considered as a speculative loss hence can not be adjusted aganist any  other income other than speculative income.

Loss from F&O transactions is considered as normal business Loss.

Short term capital gains those cases mentioned u/s 111A are chargeable @ 15% flat rate

So your taxable income will be

salary 10-0.7(house property loss)-1lakh(interest)=8.3

Short term capital Gains (sale of shares with in a year ) 0.8-0.8( extent to income setoff towards F&O loss).

SO total Income  8.3-1(80C)-0.2(80CCF infra bonds)= 7.1 lakhs

Tax liability =RS.76220( including cess)

Your income cosists of income/loss under the head Income from business or profession so You have to File ITR-4.

Note: 1.Business loss can't be adjusted against salary income.

          2.Loss from intraday can be carry forward for next 4 years.