Do different stock market products have different tax implications?

Yes, different types of stock market products have different tax implications, primarily based on the nature of the income (capital gains or business income) and the holding period (short-term or long-term). Intraday gains fall under "Speculation" while taxation of CNC (Cash and Carry) or Delivery trades depends on whether the securities were held for short-term or long-term. Derivative trades are taxed as non-speculative business income.