Zerodha - Number One Discount Broker in India
- Thread starter Traderji
- Start date
hello,
Appreciate the quick response.
i thought the no of scrips added either in a single or spread over multiple marketwatch would make no difference to the performance. anyway 55 is gud enough for me.will have a chat again if required.
i tried running both platforms simultaneously as well as singularly. the end result was the same. Perceived lag in z trader. kindly advice.
Appreciate the quick response.
i thought the no of scrips added either in a single or spread over multiple marketwatch would make no difference to the performance. anyway 55 is gud enough for me.will have a chat again if required.
i tried running both platforms simultaneously as well as singularly. the end result was the same. Perceived lag in z trader. kindly advice.
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Hi, Zerodha you are right.
VPS now changed their previous opinion after seeing your document.
Here is their view,
-------------
The other big broker is saying that if they get notice from a particular state then they will think of appropriate action, until then they will charge fixed stamp duty as before.
But they are charging STAMP DUTY at the rate of 0.01% on delivery based turnover and 0.002% on non-delivery based turnover for TN and WB also.
http://content.icicidirect.com/mailimages/Variable_Brokerage_Structure.htm
But it is very unfair that some people will pay Rs 1000/per crore and some only Rs 50 per day because resident of a particular state. If we are all Indian and trading with same Stock Exchange NSE. Transaction charges must be same.
You are one of the big brokerage house in india now. Please try to bring it under notice of finance ministry (they are trying hard for uniform stamp duty) and SEBI.
Shri Palaniappan Chidambaram, Finance Minister of India, can be reached by the e-mail
[email protected]
Best Wishes to Zerodha.
Hi, Zerodha you are right.
VPS now changed their previous opinion after seeing your document.
Here is their view,
-------------
The other big broker is saying that if they get notice from a particular state then they will think of appropriate action, until then they will charge fixed stamp duty as before.
But they are charging STAMP DUTY at the rate of 0.01% on delivery based turnover and 0.002% on non-delivery based turnover for TN and WB also.
http://content.icicidirect.com/mailimages/Variable_Brokerage_Structure.htm
But it is very unfair that some people will pay Rs 1000/per crore and some only Rs 50 per day because resident of a particular state. If we are all Indian and trading with same Stock Exchange NSE. Transaction charges must be same.
You are one of the big brokerage house in india now. Please try to bring it under notice of finance ministry (they are trying hard for uniform stamp duty) and SEBI.
Shri Palaniappan Chidambaram, Finance Minister of India, can be reached by the e-mail
[email protected]
Best Wishes to Zerodha.
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Hi, Zerodha,
This article is very important for you, please read this.
Stock brokers get relief in Tamil Nadu stamp duty case
Sanjay Vijayakumar, ET Bureau Jul 16, 2013, 05.00AM IST
http://articles.economictimes.india...ecurities-and-sharekhan-tamil-nadu-duty-rates
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Stock brokers get relief in Tamil Nadu stamp duty case
Jul 16, 2013
Here is the details of the report:--
CHENNAI: The Mumbai-based Association of National Exchanges Members of India, the country's premier stock broker lobby, has won an interim injunction against recent changes in the stamp duty structure in Tamil Nadu that it believes will hurt business. This comes even as Tamil Nadu is poised to move away from the Indian Stamp Act of 1899, under which those changes took effect, and adopt its own Stamp Duty Act that prescribes even higher duties for stock transactions.
The association, comprising more than 800 members, moved the Madras High Court after figuring out that the stamp duty changes would make Tamil Nadu-linked business unviable for its brokers.
Tamil Nadu, in the past one-and-a-half years, has increased stamp duties on stock market transactions by 50% to 6 for every 1 lakh worth of transactions, which is, however, in line with what neighbours Karnataka and Andhra Pradesh charge. But what's really bothering brokers is that the state has done away with an upper limit.
Earlier, the stamp duty on a stock transaction would have a cap of 50. Not anymore, unlike its neighbours. So, a transaction for 1 crore would attract a stamp duty of 50 in Karnataka or Andhra Pradesh and 600 in Tamil Nadu. This will become 1,000, if and when a new Stamp Act is introduced in the state. The argument put forward by brokers is that this isn't justifiable because stock transactions could lead to a loss or a profit. In other words, it isn't the same as dealing in real assets.
When Tamil Nadu first communicated the duty changes in November 2011, six months after J Jayalalithaa took over as chief minister, the broker association wrote to Dharmendra Pratap Yadav, Inspector General of Registration, urging him to reconsider the rates and fix an upper ceiling.
In the letter, the association pointed to how stock broking companies were struggling to survive in the wake of intense competition, which was forcing down brokerage rates to 0.1% for delivery and 0.01% for intraday transactions. In comparison, it said, the Tamil Nadu stamp duty on these transactions is 0.006%, which is over and above the various taxes the brokers are already paying.
Even in Gujarat and Maharashtra, which dominate stock transactions in India, stamp duty rates are lesser than in Tamil Nadu, the letter further stated. According to estimates shared by investment experts, Gujarat and Maharashtra together would account for 60% of the stock market transactions in India while Tamil Nadu manages about 5%.
Leading brokerage houses such as Aditya Birla Money, Geojit BNP Paribas Financial Services, Kotak Securities and Sharekhan have a presence in TN. Five members of the Association of National Exchanges Members of India told ET on condition of anonymity that it would be unviable to continue operations in the state if the upper ceiling on duties isn't reinstated.
They said it would make more sense for brokers and clients to move to neighbouring Karnataka and Andhra to avoid such high duties. In the petition filed before the court, the broker association focused largely on a technicality.
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The another brokerage house gave me that link after I told there customer care unit about your opinion.
Stamp Duty for stock is not like Stamp Duty in Real Estate at all.
I shared that link here for you. All brokerage house must be united during crisis.
Cheers.
This article is very important for you, please read this.
Stock brokers get relief in Tamil Nadu stamp duty case
Sanjay Vijayakumar, ET Bureau Jul 16, 2013, 05.00AM IST
http://articles.economictimes.india...ecurities-and-sharekhan-tamil-nadu-duty-rates
---------------
Stock brokers get relief in Tamil Nadu stamp duty case
Jul 16, 2013
Here is the details of the report:--
CHENNAI: The Mumbai-based Association of National Exchanges Members of India, the country's premier stock broker lobby, has won an interim injunction against recent changes in the stamp duty structure in Tamil Nadu that it believes will hurt business. This comes even as Tamil Nadu is poised to move away from the Indian Stamp Act of 1899, under which those changes took effect, and adopt its own Stamp Duty Act that prescribes even higher duties for stock transactions.
The association, comprising more than 800 members, moved the Madras High Court after figuring out that the stamp duty changes would make Tamil Nadu-linked business unviable for its brokers.
Tamil Nadu, in the past one-and-a-half years, has increased stamp duties on stock market transactions by 50% to 6 for every 1 lakh worth of transactions, which is, however, in line with what neighbours Karnataka and Andhra Pradesh charge. But what's really bothering brokers is that the state has done away with an upper limit.
Earlier, the stamp duty on a stock transaction would have a cap of 50. Not anymore, unlike its neighbours. So, a transaction for 1 crore would attract a stamp duty of 50 in Karnataka or Andhra Pradesh and 600 in Tamil Nadu. This will become 1,000, if and when a new Stamp Act is introduced in the state. The argument put forward by brokers is that this isn't justifiable because stock transactions could lead to a loss or a profit. In other words, it isn't the same as dealing in real assets.
When Tamil Nadu first communicated the duty changes in November 2011, six months after J Jayalalithaa took over as chief minister, the broker association wrote to Dharmendra Pratap Yadav, Inspector General of Registration, urging him to reconsider the rates and fix an upper ceiling.
In the letter, the association pointed to how stock broking companies were struggling to survive in the wake of intense competition, which was forcing down brokerage rates to 0.1% for delivery and 0.01% for intraday transactions. In comparison, it said, the Tamil Nadu stamp duty on these transactions is 0.006%, which is over and above the various taxes the brokers are already paying.
Even in Gujarat and Maharashtra, which dominate stock transactions in India, stamp duty rates are lesser than in Tamil Nadu, the letter further stated. According to estimates shared by investment experts, Gujarat and Maharashtra together would account for 60% of the stock market transactions in India while Tamil Nadu manages about 5%.
Leading brokerage houses such as Aditya Birla Money, Geojit BNP Paribas Financial Services, Kotak Securities and Sharekhan have a presence in TN. Five members of the Association of National Exchanges Members of India told ET on condition of anonymity that it would be unviable to continue operations in the state if the upper ceiling on duties isn't reinstated.
They said it would make more sense for brokers and clients to move to neighbouring Karnataka and Andhra to avoid such high duties. In the petition filed before the court, the broker association focused largely on a technicality.
----------------
The another brokerage house gave me that link after I told there customer care unit about your opinion.
Stamp Duty for stock is not like Stamp Duty in Real Estate at all.
I shared that link here for you. All brokerage house must be united during crisis.
Cheers.
in this regards sharekhan trade terminal scores over every other terminal! many unique, imp and helpful features in TT of sharekhan in this regards are:
if zerodha focuses on these kind of s/w interface, it will be really beneficial to everyone of us!
btw zerodha - any plans of adding these features in your new s/w
- in one single line in main window (just over marketwatch) you can see on RT basis - margin/booked m2m/ongoing m2m for all segments..simply wow :thumb:
- infact if ur m2m goes in negative, the same amt is getting subtracted from margin left on RT basis. double wow! so if you have 50k in your margin and you take a nifty trade which takes 30k margin for example, in a second when the trade is executed, you will see your limit changed to 20k :thumb: if your m2m goes in negative by 5k, the same will get reflected as 15k in margin left on RT basis! so u knw tht nw u cnt take another trade!
- in click you can see margin blocked for every trade taken!
- in mkt watch ZT trader doesnt give option of %OI change. only absolute OI feature option is there. this is again a v imp feature for traders which is provided in TT of sharekhan!!
if zerodha focuses on these kind of s/w interface, it will be really beneficial to everyone of us!
btw zerodha - any plans of adding these features in your new s/w
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Dear Zerodha,
As pioneers in Discount broking in India, Zerodha team - you are really Wonderful. As from the discussions I could understand that competition is heating up in this space also.
But winners will be decided by the Reliability, Service and Suppport + Tools and other reliable freebies.
Hope Zerodha can and will do exceed our expectations.
Brill.
As pioneers in Discount broking in India, Zerodha team - you are really Wonderful. As from the discussions I could understand that competition is heating up in this space also.
But winners will be decided by the Reliability, Service and Suppport + Tools and other reliable freebies.
Hope Zerodha can and will do exceed our expectations.
Brill.
