Taxation query for intraday trading in cash and derivatives

Hello Group,

I am a full time intraday trader in cash and derivatives section. I do not have any other source of income. I have started trading from home since 4 months. Going ahead i would like to know if setting up a proprietership firm will be beneficial in saving the income tax or i need to file it individually. As an individual can i then claim for business expenses like electricity and internet expenses which i can claim when filing as a business. Which one would save me more tax..

Thanks in advance