Demat and its nuances

[lazytrader]

Thanks for the clarification on demat. But still have one question: if a broker has not registered with a Depository can then still use the demat account with that Depository? Eg: In the list of registered DP's on NDSL Angel broking is not showing, they are registered with CDSL now if I have a demat account with NSDL will Angel broking be able to use me demat account for delivery of shares?

The tax expert I was talking about is diosys. He provides free tax related info on this forum for past 2 yrs. I don't think that's the reason.

What he said was that shares in demat are classified into STCG or LTCG based on FIFO method. Basically if you make 2 buy transactions, say 50 and 50 shares and then 1 sell transaction say 50 shares (of the same co) then the calculation is that the first purchase is considered to be sold first so it is calculated as STCG. That's why he suggested holding 2 demat accounts. In which case the long term holding will not shown any trasaction in the demat account and will not be taxed.

The software tht you are talking about is it Tally? It's too complicated for newbies to use.

 

[SavantGarde]

Hi LT

Thanks for the clarification on demat. But still have one question: if a broker has not registered with a Depository can then still use the demat account with that Depository? Eg: In the list of registered DP's on NDSL Angel broking is not showing, they are registered with CDSL now if I have a demat account with NSDL will Angel broking be able to use me demat account for delivery of shares?

If Angel Is Not A DP Of NSDL, & You Want To Use Your Demat Account With Whoever The DP Is In Your Case, That Means For Whichever Scrip You Sell From Your Demat Account, You Will Need To Payin Through Your DP Instruction Slip To Your DP, Filling Out All The Necessary Details Contained In It. Viz.

a) Your Name (Is Normally Printed)

b) Your Client ID (Is Also Normally Printed.

c) ISIN Of The Scrip, Company Name, Quantity In Figure & Words

Other Things That Needs To Be Filled In Which Is Available On The Contract Note.

d) Settlement No.

e) CM BP ID

f) CM Name


The tax expert I was talking about is diosys. He provides free tax related info on this forum for past 2 yrs. I don't think that's the reason.

What he said was that shares in demat are classified into STCG or LTCG based on FIFO method. Basically if you make 2 buy transactions, say 50 and 50 shares and then 1 sell transaction say 50 shares (of the same co) then the calculation is that the first purchase is considered to be sold first so it is calculated as STCG. That's why he suggested holding 2 demat accounts. In which case the long term holding will not shown any trasaction in the demat account and will not be taxed.

I Have Immense Respect For Diosys & His Knowledge But I Am Surprised About This Though, FIFO Is Not A Strict Rule & Is Not Enforced In My Opinion. (Non-Issue)

The software tht you are talking about is it Tally? It's too complicated for newbies to use.

It Is Not Tally, I Think It Is Called Moneyware2000 You Input All Your Transactions & It Also Picks Up The Rates From The Exchange
So You Have Many Types Of Reports That Can Be Generated Including Your Holding & Value On The Day You Generate It.

Happy & Safer Investing

SavantGarde

 

[lazytrader]

Thanks much Savantji. All of my demat queries are answered. God bless.

 

[Mangafreakz]

Hi Mangafreakz,

10/- Is The Transaction Charge, It Is Always Incurred On SELL Not On BUY.

Usually Requires A Good Monthly Turnover To Get A Totally Free (No AMC & No Transaction, Except Per Pledge, Demat, Remat & Offmarket Transactions)Demat Account .

You Will Need To Speak To Them & Convince Them.

Happy & Safer Investing

SavantGarde

Thanks.
I guess you sir have Free Demat ACC. What would you give an estimate of amount of monthly turnover needed for getting a free Demat acc from Broker ?

 

[SavantGarde]

Hi Mangafreakz,

Yes I Have A Free Demat A/c Not Because I Want Things Free In Life....But More Because Of The Size Of My Trading & Broker Makes More Money Than He Would From 10 Decent Sized Branches....Somebody Else's Observation By The Way.

I Think With Average Monthly Rs.5.00 Lac Turnover You Can Insist On A FOC Demat.

Happy & Free Demat

SavantGarde

Thanks.
I guess you sir have Free Demat ACC. What would you give an estimate of amount of monthly turnover needed for getting a free Demat acc from Broker ?

 

[abap.jgs]

offer quantity and bid quantity

what is bid quantity and offer quantity and total sell or buy quantity.which one i should buy?

 

[lazytrader]

Correction about demat charges for SBI:

After digging deep into the demat section on the SBI site I came across my bill that had different charges than what was earlier communicated to me. Seems they have changed. Full list of charges here:
http://sbi.co.in/viewsection.jsp?lang=0&id=0,1,21,596,697

 

[magnet]

Correction about demat charges for SBI:

After digging deep into the demat section on the SBI site I came across my bill that had different charges than what was earlier communicated to me. Seems they have changed. Full list of charges here:
http://sbi.co.in/viewsection.jsp?lang=0&id=0,1,21,596,697

what does rejection fail charges means?

 

[lazytrader]

no idea. Need to learn more about demat and stuff.
Maybe seniors can enlighten.

 

[SavantGarde]

It Simply Means Instruction Slip Issued Was Rejected, Could Number Of Reasons....Checking The Rejection Report Will Tell You The Exact Reason For The Failure...

Below Are Some Of The Reasons For Which Rejection Of The Instruction Slip Can Happen:

a) Incorrect ISIN
b) Incorrect Company Name
c) Signature Doesn't Tally Or In The Wrong Place Incase Of Multiple Holders
d) Incorrect Quantity
e) Incorrect Settlement No.
f) Incorrect Date
g) Incorrect CMBP ID
h) Incorrect CM Name
i) Correction Or Overwriting On The Slip Without Signature For The Correction

SavantGarde

what does rejection fail charges means?