Loss under intraday trading with profit in LTCG & STCG?

Ans: In case of investment made in Market Linked Debentures, upon Sale all gains will henceforth be treated as Short Term irrespective of the period of holding.

Ans: Short capital loss shall be set off against long term capital gain. Therefore, balance Rs.15000 shall be carried forward. As long term capital gain shall be NIL after set off, 1 lacs limit will not be applicable.

Ans: Intraday trading is subject to specific tax rules and regulations. Here's how profits and losses from intraday trading are treated for income tax purposes, along with information on turnover tax and tax audits:

Tax Treatment of Intraday Trading Profits and Losses:

Profits: Profits made from intraday trading are considered as speculative business income in India. These profits are added to your total income and are taxed as per your applicable income tax slab rates.

Losses: Intraday trading losses can be treated in two ways:

Set Off Against Speculative Business Income: You can set off intraday trading losses against any other speculative income you have earned during the same financial year.
Carry Forward of Losses: If you are unable to set off the entire loss in a given financial year, you can carry forward the remaining loss for up to four assessment years. This can be adjusted against any speculative business income in those years.
Turnover Tax:

In India, there is no specific turnover tax on intraday trading. However, you may be subject to other charges and taxes, such as Securities Transaction Tax (STT), brokerage charges, and other regulatory fees.
Tax Audit:

In India, if your turnover from intraday trading exceeds a certain threshold, you may be required to get your accounts audited by a Chartered Accountant (CA) under Section 44AB of the Income Tax Act.
The limit is 1 cr for FY 2022-23. This limit may change over time.
Documentation and Compliance:

It's crucial to maintain proper records of all your intraday trading transactions, including contract notes, bank statements, and other relevant documents.
Ensure that you file your income tax returns accurately and disclose your speculative income, losses, and other financial details as required by the tax authorities.

Ans: 01. You may claim benefit of carried forward loss only up to 8 years. Please check the time line. I hope you have filed the ITR, for the year in which you had some losses under the head Capital Gains.
Most welcome for any further clarifications. Thanks.