stamp duty Rates

[thatzamit]

Hi

can anyone tell what is the stamp duty chrges on trading in different states?

Thanks in advance

 

[saivenkat]

Hi

can anyone tell what is the stamp duty chrges on trading in different states?

Thanks in advance

Stamp duty rates in my state (Tamil nadu) is 0.002% of Turnover

Other brokerages:
Service tax = 10.30%
STT = 0.017% on selling turnover
SEBI Turn over = 0.0001% on Selling Turnover.

P.S: I don't know if it differs from state to state or not.

Regards

Saivenkat:thumb:

 

[DDK_CHENNAI]

sorry u r wrong... there's no stamp duty in tamilnadu for both equity and fo...

Stamp duty rates in my state (Tamil nadu) is 0.002% of Turnover

Other brokerages:
Service tax = 10.30%
STT = 0.017% on selling turnover
SEBI Turn over = 0.0001% on Selling Turnover.

P.S: I don't know if it differs from state to state or not.

Regards

Saivenkat:thumb:

 

[nac]

sorry u r wrong... there's no stamp duty in tamilnadu for both equity and fo...

Then, why we are getting charged under stamp duty? Up to my knowledge stamp duty is .002% and this is what I am getting charged.

 

[saivenkat]

What i have stated there is for F&O and its charged by Present Broker BONANZA.

Also, i am also charged the stamp duty, of .002%.

 

[anuragmunjal]

hi
stamp duty is charged by the respective state govt. some states charge rs. 200/- per crore, some charge rs. 100/- per crore and some do not chrge at all. since evey state has a different policy on this, there is no clarityon this matter.

regards

Anurag

 

[alroyraj]

hi
stamp duty is charged by the respective state govt. some states charge rs. 200/- per crore, some charge rs. 100/- per crore and some do not chrge at all. since evey state has a different policy on this, there is no clarityon this matter.

regards

Anurag

I am trading with RKG for last one week. I checked contract notes for discrepancy in charges and found discrepancy. I don't know you guys have mentioned here or not. But I haven't seen it. I am trading only in NSE CASH.
I have been trading in Indian market for the last two years. All the time, I was doing day trading in cash segment. I have never ever charged any amount under the head SEBI TAX. I surfed web about this, finding this charges is charged when we trade in derivatives but not in capital market. I don't know why I am getting charged. And Stamp duty, I was paying .002% with other brokers. But now I am paying .00225% in RKG. I am sure statutory levies are same for all the brokers. I wonder why these differences. I calculated the difference amount I am paying to RKG compared with IIFL. For every crore turnover I am paying extra Rs. 27.47/-. (I guess, I am paying lesser than actual in IIFL).

For the clearer picture -

Broker	Turnover	Stamp Duty	SEBI TAX	Total	Difference
RKG	10000000	225	              10	235	35
IIFL	10000000	200	               0	200

Anybody got anything to say regarding these differences. Are you guys checking these things in your contract note?

I sent a mail regarding this. Till date, I ain't got any reply from them. Its been a week.

I guess RKG registered at West Bengal makes a difference. But basically it is very hard to otain a standardised lisdt of stamp duty charges by state. Even a CA will not know. You have to infer it from contract notes and associating it to the state that broker has its head office.

Stamp Duty is imposed by State Governments and varies slightly depending on where is your broker registered.
Sharekhan didn't charged me ever in the name of Sebi Tax. But I learnt by searching google that Sebi Tax is applicable in Derivatives segment (only 0.0002%).

 

[kaushikbanerjee]

But total variation in all taxex is not more than Rs.2-3 in different brokers.
I found in Options segment, Sharekhan charges TO tax @ 0.051% but RKG charges 0.071%. Also in Futures segment, Sharekhan charges TO tax @ 0.0023% but RKG charges 0.003%. Sharekhan charges all taxes rounded upto 2 decimal places. RKG charges TO tax & Service Tax upto 2 decimal places. They charge STT rounded to nearest integer i.e. 5.49 will be 5 & 5.5 will be 6.
They charge Stamp duty @ 0.002% (similar to Sharekhan) but round it to nest whole number i.e. even 4.01 will be 5.
But all these sum upto very little if u pay a brokerage of Rs. 9 only !!!!!

 

[niteshlohia]

West bengal broker stamp charges - please help

I am being charged Rs.1000 per crore i.e. 0.01% as stamp charges for F&O transactions by my broker who is registered in West bengal.

Are these charges correct ? I suspect it.

Please help.

 

[ubertrader]

There is no distinction nowadays between Physical and electronic contract notes for stamp duty. Previously a physical stamp used to be affixed on the contract note. Nowadays I think most states have done away with physical stamps.