Comment on Taxation for Traders - Introduction
commented on
25 May 2015, 03:42 PM
Yep, looks like your broker considers FIFO for intraday based on anything that is not lying in your demat account (stocks undelivered) for calculating P&L. Both the methods are correct.
The easiest way to calculate speculative and non speculative is based on STT (this also acts as a proof if there is an ITO scrutiny). All P&L where STT is 0.025% can be considered as speculative and with 0.1% as capital gains.