Tax rules for mcx trading income

Dear All,

I am Trading in MCX commodities like bullion, base metals etc. I know its a business Income now but

Can you please guide me, whether we have to pay the income tax on MCX Trading income at the end of the year or MCX will deduct it from my trading a/c.

Different people have different views on this, some say you don't have to pay at all and some say MCX deducts this from your trading a/c, so you do not have to pay it again at the end of the year.

Please guide me.

Regards,

Deepak