Tax and Stokes?

Do I need to pay tax to returns from Shares? (India)
If yes what is the percentage?
The tax is for GAIN or for the total sell amount?
I am using ICICI Direct and they are also charging some taxes other than brokerage from the amount when buying and selling. My question is are they collecting the Income Tax from me or Do I need to pay additional? How the procedure will be?

Very much thanks for all good answers!

The tax charged by the ICICI direct from you is only transaction tax on your buy and sell of shares and not income tax. You have to pay income tax only on your gains (Sale Amount less purchase amount less brokerage etc.) and not on the sale amount. The profits made out of shares purchase and sell have to be shown in your Income Tax returns along with other income and necessary income tax has to be paid.

Transactions types in brief:-

(1) If you buy and sell the shares on the same day (Day Trading- without taking delivery of shares), this transaction will be treated as Trading/Speculation. You have to show this income as your trading income as business income.

(2) If you buy to day and sell it next day or within one year, this will be treated as your short term capital gains and the tax on the gains will be 10% flat.

(3) If you sell the shares after one year of purchase, this will be treated as long term capital gains and there is no tax on this gains.

So you have to show your income from shares in your returns and have to pay tax accordingly.