Zerodha - Number One Discount Broker in India

[TraderRavi]

ILFS has that option, but I think it is around 5000 or 6000, will find out and let you know.. But I'd say don't worry about it, we should be live on our DP business by next year..

thats good news.....:thumb:

 

[Trader J]

thats good news.....:thumb:

Ravi, R u planning for long term equity trading ?

 

[poortrader]

Zerodha
Regarding DP account.
The ILFS dp account that I opened with you, I used it for sometime initially.
After that I am no longer using the DP account. All my holdings are sold.
I have 2 options close the DP account or continue incurring the AMC charges because in future I might again need it.
I heard that some other DP provider provide lifetime AMC charges.
e.g. you can pay 1600 one time and be done with AMC charges.
Is that something that you can discuss with ILFS and provide to your customers as an option?

IIFL has one time DP charges it was around 750 when I opened. You can check with them

 

[Trader J]

This has got nothing to do with having our office there, TN government has gotten very strict about it,

Can someone tell me how to insert images here??

Trying to load image.............

Success....used http://tinypic.com ...upload image than shre the link by using "insert image" in traderji

Last time I failed

 

[st_7]

IIFL has one time DP charges it was around 750 when I opened. You can check with them

Yes I can confirm that IIFL has one time DP charges around 500-750, I forgot how much I paid it(it was around Rs.1300/- for a/c opening including one time trading a/c charges), no need to pay any AMC charges for anything.

 

[Zerodha]

Here you go guys, just that there is no confusion that we are doing this because of opening support office in Chennai, from the IG of Stamps!! They were very clear to us, if we don't start, they will come back and charge us with retrospective, that means if a client has done turnover and stopped trading, they can come back to us later and demand for the difference. This is clearly something that can kill the business for low margin businesses like ours.
TN govt is in a cash crunch and they are pulling everything possible to increase their revenue. We didn't want to be in a situation where tomorrow, we risk ourselves or our clients, better safe than sorry.

 

[timepass]

Here you go guys, just that there is no confusion that we are doing this because of opening support office in Chennai, from the IG of Stamps!! They were very clear to us, if we don't start, they will come back and charge us with retrospective, that means if a client has done turnover and stopped trading, they can come back to us later and demand for the difference. This is clearly something that can kill the business for low margin businesses like ours.
TN govt is in a cash crunch and they are pulling everything possible to increase their revenue. We didn't want to be in a situation where tomorrow, we risk ourselves or our clients, better safe than sorry.

It's the same with all the governments - State or Central..

 

[poortrader]

Here you go guys, just that there is no confusion that we are doing this because of opening support office in Chennai, from the IG of Stamps!! They were very clear to us, if we don't start, they will come back and charge us with retrospective, that means if a client has done turnover and stopped trading, they can come back to us later and demand for the difference. This is clearly something that can kill the business for low margin businesses like ours.
TN govt is in a cash crunch and they are pulling everything possible to increase their revenue. We didn't want to be in a situation where tomorrow, we risk ourselves or our clients, better safe than sorry.

So is it possible to change our residential address now. Suppose I have registered with you with my address as West Bengal, now I also have a address of Delhi. Is it possible to change to Delhi and be charged at Delhi rates?
zerodha, please try to post the stamp duty applicable in all states of India.

 

[SKU]

Zerodha- You are the highly professional brokers amongst all discount brokers and you have created a good brand. But as the competition is heating up, can we expect standardized & uniform minimum charges with unlimited plans like Rs.1000 per month from you. You have established trust with your service but discount is also important factor for us, if one get both from you that would be great.

 

[Price Pattern Recognition]

This has got nothing to do with having our office there, TN government has gotten very strict about it,

Can someone tell me how to insert images here??

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Hi, Zerodha,
Please don't mind. I think you don't know the Stamp Duty Rule correctly.
Max Cap Stamp duty advantage is the biggest advantage of Zerodha of you as of now. Don't let it go by not knowing the rule.
I have confirmed the rule from multiple discount broker. Bcoz some state still has max cap stamp duty of Rs 30 or 50 only.

Here is the my conversion with another discount broker:-

Hi, VPS,

What is the actual rule for Stamp Duty? It is collected accrediting to brokers or state of the clients. Is there any mandatory rule?

Another discount broker is already collecting stamp duty according to 3 state TN, MH etc where is no max cap. They said such State send mandatory notice to them & SEBI AND eventually all states will do the same. What is your opinion on this?

If my state has max cap of Rs 30/Day [0.003% or Rs 30] only like Haryana. Is it possible to pay STT in that rate using my contact address with VPS also?

I don't think uniform stamp duty rule would pass soon as many states are opposing to it. If there is any latest news with this matter, please share.

Dear Sir,

Stamp Duty is a state subject under Indian Constitution. Each state has its own Stamp Act. All brokers have to deposit stamp duty to state exchequer mandatorily. If a broker has only one office in India then they can apply the rule of depositing stamp duty to the state in which they are located. If a broker has many offices/regional offices then the state where they have their office has all the right to ask for stamp duty on the turnover done by resident of their state. It is deemed that all the turnover that has taken place in a particular office is done by resident of that state.

Since we have only one corporate office we will continue to follow uniform stamp duty rate for all our clients.

happy trading,

Team VPS

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With Best Wishes to Zerodha.