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Can I use the same funds for trading on Equity as well as Commodity?

No, you will not be able to use the same funds for equity and commodity. This is because, firstly, SEBI regulations mandate brokers to maintain separate bank accounts for equity and commodity funds. This is why you will have to make transfers to different bank accounts based on the segment.

Secondly, SEBI regulations also mandate that a client’s trading account has to be funded only by their linked bank account, which is why we can't move the funds across equity and commodity segments. A client will have to make a withdrawal and then transfer money to the segment he wishes.