Tax calculation on short term capital gain?

Question

SUPPOSE I MAKE 1 LAKH PROFIT IN ONE EQUITY AND A LOSS OF 1 LAKH IN ALL OTHER EQUITIES THAT I HAVE TRADED HOW IS THE TAX CALCULATED ON THIS PORTION. DOES IT GETS NULLIFIED OR I HAVE TO PAY ON THE PROFITS(100000)

Answer 1

u donot have to calculate and pay taxes script wise. It is the total loss or gain on all scrtipts traded during the year that matter. e.g. iof u make a loss of rs 10 on one script and gain on rs 12 on second, the cumulative gain is rs 2 which counts and not in indiviual scripts.

Answer 2

You should read this

http://mytaxes.in/index.php?topic=30.0

Answer 3

No you do not have to pay any tax.

Provided both are short term transactions - less than 12 months in the particular financial year.