Calculating tax on Capital Gain

Financial instruments which have been bought and sold within 12 months is short term. But if you have done day trading in any transaction, it shall be regarded as speculation business. Any losses rising from such speculation business will only be allowed to be set off against speculation profit, carry forward upto 4 years allowed. You are only accountable for the sold shares, in the previous year. Because unless you sell the rest of the shares in your stock, there cannot arise capital gain/loss. Expenses relating to brokerage, fees, service charges, etc. shall be allowed to be deducted from the sale value. But any taxes and duties levied by any authority will not be allowed for deduction. Because any taxes are meant to be beared by a person. If it were allowed as an expense, then he would get a tax credit on it. Thus, the taxes paid eventually becomes free. This is not at all the objective of the Government. Good day!