Comment on BTST/ATST( Buy/Acquire Today Sell tomorrow)

Hi,
For BTST trades, how gains are taxed –
(1) For someone who is ‘Investor’ and has done BTST say 2-3 times in a financial year?
(2) for traders for whom 33.3% taxation usually is applicable?
(3) Suppose for a trader in an year penalty amount say is Rs 10000, is this deductible under some head, say expenses or loss or so while preparing tax returns?

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