Any body know about R Trade?

[gvnarendra]

Hi Gvnarendra
Generally for NSE F&O, stamp duty is 0.002% and Exchange Turnover Levy is also 0.002% i.e., Rs 2 per lakh each but in your case i am surprised to see the stamp duty Rs 0.10 for the entire trade and there is no Exchange Turnover Levy.If you dont mind can you please upload the contract note of the Nifty Option that you have traded with Reliance Money.

Hi unicorn,
I am herewith sending a file that contains the brokerage structure of Reliance money. For security reasons I am not sending the full page only the part that interests and necessary for you. Go through it. I may not be able send the full page if you require. This trade is a different one that I had mentioned earlier.
gvnarendra

 

[unicorn]

Hi unicorn,
I am herewith sending a file that contains the brokerage structure of Reliance money. For security reasons I am not sending the full page only the part that interests and necessary for you. Go through it. I may not be able send the full page if you require. So be conteted with what I have sent. This trade is a different one that I had mentioned earlier.
gvnarendra

Hi Gvnarendra
Thank you for your reply.
Here i have noticed several things which i want to bring to your attention.

(1) In NIFTY-OPTIDX sell transaction i can found that the STT levied is
Rs 69.74 which is 0.68% of Rs 10,225 [69.74/10,225*100] .It is far higher than 0.0017% which is prescribed by the Income Tax Act to be charged on F&O sell transactions.

(2) Now let us take the case of Turnover Charges which is charged on volume.Here i can found out that your total volume is Rs (9,700+10,225
9,650) =Rs 29,575.Now the turnover charges comes to 0.05%
[15.08/29575*100].But the NSE has clearly prescribed the Turnover Charge
in F&O will be levied at Rs 2 per 1 Lakh or 0.002%.Therefore Turnover Charges
are levied at higher rate than what is prescribed by NSE.

(3) Only the stamp duty levied is correct which is 0.002% [0.58/29575*100] of total volume.

Therefore if your uploaded copy of Reliance Money contract note is true then it can be easily concluded that Reliance Money is cheater.They are attracting innocent people by lowering berkerages, but they are charging high taxes which is over and above the rates, specified by the prescribed authorities.This should be brought to the attention of SEBI.

Please give me a reply.

 

[bslk]

Hi Gvnarendra
Thank you for your reply.
Here i have noticed several things which i want to bring to your attention.

(1) In NIFTY-OPTIDX sell transaction i can found that the STT levied is
Rs 69.74 which is 0.68% of Rs 10,225 [69.74/10,225*100] .It is far higher than 0.0017% which is prescribed by the Income Tax Act to be charged on F&O sell transactions.


Therefore if your uploaded copy of Reliance Money contract note is true then it can be easily concluded that Reliance Money is cheater.They are attracting innocent people by lowering berkerages, but they are charging high taxes which is over and above the rates, specified by the prescribed authorities.This should be brought to the attention of SEBI.

Please give me a reply.

STT is applied on the underlying value of the option, which in this case is approx 400000
per lot. It is quite clearly correct.

 

[unicorn]

STT is applied on the underlying value of the option, which in this case is approx 400000
per lot. It is quite clearly correct.

Hi bslk
Thank you for the clarification . I generally trade on cash and futures . I have never traded on options. But can you clarify me about the Turnover Charges and Stamp duty.Does these charges are also applied on the underlying value of options?

 

[bslk]

Hi bslk
Thank you for the clarification . I generally trade on cash and futures . I have never traded on options. But can you clarify me about the Turnover Charges and Stamp duty.Does these charges are also applied on the underlying value of options?

That is also correct since options trancaction charge is .05 %of premium.

http://www.nseindia.com/content/circulars/faac5876.htm

 

[CreditViolet]

Hi bslk
Thank you for the clarification . I generally trade on cash and futures . I have never traded on options. But can you clarify me about the Turnover Charges and Stamp duty.Does these charges are also applied on the underlying value of options?

STT for Options is charged on the sell side at the rate of 0.017 % on (Strike Price + Premium) X Lot size of the options contract.
(Strike Price + Premium) X Lot size of the options contract.

[(4000+102.25)x100]X0.017% = 69.74



CV

 

[unicorn]

That is also correct since options trancaction charge is .05 %of premium.

http://www.nseindia.com/content/circulars/faac5876.htm

Hi blsk
Thank you very much for the clarification.

 

[gvnarendra]

Hi bslk
Thank you for the clarification . I generally trade on cash and futures . I have never traded on options. But can you clarify me about the Turnover Charges and Stamp duty.Does these charges are also applied on the underlying value of options?

Yes unicorn,
The charges are for underlying value of the option that is stike price+the premium price at which it is bought. Before coming to a conclusion about anybody you have to verify whether your view is correct or not first and then you should comment.
gvnarendra

 

[unicorn]

Yes unicorn,
The charges are for underlying value of the option that is stike price+the premium price at which it is bought. Before coming to a conclusion about anybody you have to verify whether your view is correct or not first and then you should comment.
gvnarendra

Hi Gvnarendra
Actually I never trade in options.I have been clarified by bslk about the STT and transaction charges.I am really sorry about making such comments

 

[unicorn]

Great discussion.!!

Can somebody tell me:-
1) I read somewhere that they charge Rs. 12 per transaction. Is it true?
2) What is margin required for FnO? In icicidirect is is mostly 18%
3) Does my money transfer from bank reflect immediately in trading account?
4) How much brokerage will be charged for intraday trading?

The Rs 12 per Trade is levied only if you trade through franchisee and call centre.It will not be levied if you trade online with them.