Charges other than Brokerage for Stock Exchange Transactions
- Thread starter rajputz
- Start date
If you have your shares in demat form (softcopy), you can ask your broker to convert it into paper form i.e. physical copy (its a proof of shares you hold). This is called Rematerialisation. Almost 100% of shares (you can take it as 99.99%) are demat form.
Its as easy as you withdraw your Re. 1/-. The profit you earned will be credited to you after deducting brokerage and other statutory levies. If you want to withdraw, request your broker for payout. You'll get it no more than two days (It differ from broker to broker and depends on which bank you got account).
Its as easy as you withdraw your Re. 1/-. The profit you earned will be credited to you after deducting brokerage and other statutory levies. If you want to withdraw, request your broker for payout. You'll get it no more than two days (It differ from broker to broker and depends on which bank you got account).
Raj, I got a doubt regarding these charges...
Is there any changes in charge structure this financial year?
I am trading in Indian market for last two years (on and off). Only day trading in NSE-Cash. Initially I don't cross check the charges charged. But later I started checking it. But no discrepancy I found when I was trading with IIFL.
Very recently I opened account with RKG and their charge structure differs. I don't think statutory levies would differ from broker to broker. I just traded two days with RKG after seeing my contract note, I was shocked.
May be the amount I get charged extra is little, but its a money and this will grow day by day.
Stamp duty is .002% but I get charged .00225% (I am residing in chennai, Tamilnadu)
SEBI Tax - Rs. 10/crore
I don't know why I am getting charged SEBI Tax. Why should I pay this tax. I have never ever paid this in my two year trading experience with two other brokers. From the table you given, i gotta know that we need to pay SEBI tax when we are trading in derivatives. But I ain't trading in derivatives. I am just trading in capital market that too intra day. Why this charge?
Is there any changes in charge structure this financial year?
I am trading in Indian market for last two years (on and off). Only day trading in NSE-Cash. Initially I don't cross check the charges charged. But later I started checking it. But no discrepancy I found when I was trading with IIFL.
Very recently I opened account with RKG and their charge structure differs. I don't think statutory levies would differ from broker to broker. I just traded two days with RKG after seeing my contract note, I was shocked.
May be the amount I get charged extra is little, but its a money and this will grow day by day.
Stamp duty is .002% but I get charged .00225% (I am residing in chennai, Tamilnadu)
SEBI Tax - Rs. 10/crore
I don't know why I am getting charged SEBI Tax. Why should I pay this tax. I have never ever paid this in my two year trading experience with two other brokers. From the table you given, i gotta know that we need to pay SEBI tax when we are trading in derivatives. But I ain't trading in derivatives. I am just trading in capital market that too intra day. Why this charge?
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It does not depend from brokerage to brokerage, but is fixed. A Brokerage company can only deduct their own brokerage i.e. 1 paisa or 10 paisa for example. But all the other additional charges are charged.
In some cases, like with Kotak Bank, they used to charge all the hidden charges and brokerage from their client (on 1 Lac Fixed Brokerage account), and reverse it at the end of trading month i.e. 1st or 15th of month. What i mean is that in their plan they told, that brokerage will be free in this 1 lac account, but they used to charge the brokerage whole month to keep the record, and on the last days, will revert all the charged brokerage to Customers account. Check if it is the case with you too, cause i never used demat with RKG.
I have so far used the demat of icicidirect, Ventura, Kotak Mahindra, Indiainfoline(i am about too). All these follow the table provieded accurately.
There may be little errors in our and companies calculation, as we may have calculated the charges upon approximation, while comanies software calculate it to end decimal
. Like you told that Stamp duty is .002% but I get charged .00225%. May be cause we humans approximate the value and computer doesnt.
In some cases, like with Kotak Bank, they used to charge all the hidden charges and brokerage from their client (on 1 Lac Fixed Brokerage account), and reverse it at the end of trading month i.e. 1st or 15th of month. What i mean is that in their plan they told, that brokerage will be free in this 1 lac account, but they used to charge the brokerage whole month to keep the record, and on the last days, will revert all the charged brokerage to Customers account. Check if it is the case with you too, cause i never used demat with RKG.
I have so far used the demat of icicidirect, Ventura, Kotak Mahindra, Indiainfoline(i am about too). All these follow the table provieded accurately.
There may be little errors in our and companies calculation, as we may have calculated the charges upon approximation, while comanies software calculate it to end decimal
. Like you told that Stamp duty is .002% but I get charged .00225%. May be cause we humans approximate the value and computer doesnt.
It does not depend from brokerage to brokerage, but is fixed. A Brokerage company can only deduct their own brokerage i.e. 1 paisa or 10 paisa for example. But all the other additional charges are charged.
In some cases, like with Kotak Bank, they used to charge all the hidden charges and brokerage from their client (on 1 Lac Fixed Brokerage account), and reverse it at the end of trading month i.e. 1st or 15th of month. What i mean is that in their plan they told, that brokerage will be free in this 1 lac account, but they used to charge the brokerage whole month to keep the record, and on the last days, will revert all the charged brokerage to Customers account. Check if it is the case with you too, cause i never used demat with RKG.
I have so far used the demat of icicidirect, Ventura, Kotak Mahindra, Indiainfoline(i am about too). All these follow the table provieded accurately.
There may be little errors in our and companies calculation, as we may have calculated the charges upon approximation, while comanies software calculate it to end decimal. Like you told that Stamp duty is .002% but I get charged .00225%. May be cause we humans approximate the value and computer doesnt.
In some cases, like with Kotak Bank, they used to charge all the hidden charges and brokerage from their client (on 1 Lac Fixed Brokerage account), and reverse it at the end of trading month i.e. 1st or 15th of month. What i mean is that in their plan they told, that brokerage will be free in this 1 lac account, but they used to charge the brokerage whole month to keep the record, and on the last days, will revert all the charged brokerage to Customers account. Check if it is the case with you too, cause i never used demat with RKG.
I have so far used the demat of icicidirect, Ventura, Kotak Mahindra, Indiainfoline(i am about too). All these follow the table provieded accurately.
There may be little errors in our and companies calculation, as we may have calculated the charges upon approximation, while comanies software calculate it to end decimal
. Like you told that Stamp duty is .002% but I get charged .00225%. May be cause we humans approximate the value and computer doesnt.
Now about Stamp Duty, this error or mistake was never happened to me before with other brokers. I am not manually calculating the amount with pen and paper. With the help of Excel, I do it. So, even here computer does the calculation. Here, We can rule out human error.
SEBI TAX, this is not even about calculation. It's about WHY I AM GETTING CHARGED SEBI TAX? I should not get charged when I am doing intra day in cash market.
I have mailed them about this. Let see...
On trading April 2010 first time on 7 may I am charged for (To Being Service Tax on Intersettlement/Beneficiary charges for April 2010) Rs 6.18 & Rs 60.00.
1) Can you explain the charges?
2) On what basis these charges are applied?
3) How to avoid or at list reduce these charges?
1) Can you explain the charges?
2) On what basis these charges are applied?
3) How to avoid or at list reduce these charges?
1&2) Intersettlement is basically the transfer fron the broker's pool account to your demat account are being charges. Beneficiary charges is i think the charges which are collected and given to the depository like CDSL or NSDL. Still it varies from broker to broker ~ Rs 10 to 12
3)Enquire with them whether on what basis it is being calculated. But i doubt you can avoid it completely. Earlier itself Angel used to charge this but for SK it is a new development.
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