Zerodha - Number One Discount Broker in India
- Thread starter Traderji
- Start date
Re: how come zerodha is costlier compared to sharekhan
xsis, since you are from Gujrath, you will pay stamp according to what you are paying at Sharekhan...
https://docs.google.com/a/zerodha.c...n6EOAG4OdDdRNGdmLTdHbjNBOXlCTnUxLVJjREE#gid=0
The above document which is available in download section on our website clearly mentions the stamp for gujrath..
Hope this helps..
Cheers
xsis, since you are from Gujrath, you will pay stamp according to what you are paying at Sharekhan...
https://docs.google.com/a/zerodha.c...n6EOAG4OdDdRNGdmLTdHbjNBOXlCTnUxLVJjREE#gid=0
The above document which is available in download section on our website clearly mentions the stamp for gujrath..
Hope this helps..
Cheers
Bala,
We had sent an email telling that we would be charging according to the state u r in(based n address proff you have given) if you are from TN, Mah or Guj.. WE are already charging AP, Kerala(clients) as per their respective stamp acts
https://docs.google.com/a/zerodha.c...n6EOAG4OdDdRNGdmLTdHbjNBOXlCTnUxLVJjREE#gid=0
We had sent an email telling that we would be charging according to the state u r in(based n address proff you have given) if you are from TN, Mah or Guj.. WE are already charging AP, Kerala(clients) as per their respective stamp acts
https://docs.google.com/a/zerodha.c...n6EOAG4OdDdRNGdmLTdHbjNBOXlCTnUxLVJjREE#gid=0
Hi,
xsis,
Download the ZerodhaChargeList form their web site, all stamp duty is clearly mentioned there.
If you are from Gujrat, Stamp duty for Gujrat is only 0.002% for futures from Zerodha same as ShareKhan. Open a account with Rs 300 only, trade with Rpower again, see your contract note in your own eyes and believe it.
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Here is the reason why you (and some other friends) find it difficult to understand their present stamp duty structure.
Many big brokers like ICICI, ShareKhan follows fixed stamp duty according to Maharashtra which is 0.002% as their main branch.
Zererodha followed 0.01% or Rs 50 which is rate of Bangalore [Karnataka]. Using that that they attracted high frequency & volume traders. Although their turnover charge is high, they got that extra Rs 150/Cr benefit. As their turnover is increased, some state Govt like TN, Guj, Maharastra send notice to them to apply higher stamp duty according to such states as such states has no max cap facility. Zerodha started to apply the Stamp Duty according to such 4 states which causes anger from their clients.
Now after a notice a broker is bound to obey the rule or the broker can challenge that rule in the court immediately.
Some other Maharastra based brokers like Aditya Birla Money, Geojit BNP Paribas Financial Services, Kotak Securities and Sharekhan already got notice from TN for sure. They challenged it to Madras High Court & has won an interim injunction against recent changes in the stamp duty structure in Tamil Nadu. So they are also currently charging as old rates.
I have posted the link here, it is for you again.
http://articles.economictimes.india...ecurities-and-sharekhan-tamil-nadu-duty-rates
Some brokers with less clients not got notice from such states so that they also charging fixed rate of 0.002%.
That is the reason that Zerodha is charging differently stamp duty for 4 states currently.
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But I personally feel Rs 600 [TN] or Rs 1000 stamp duty [WB] with no max cap is too much bcoz trading is not like reality business, here profit is not guaranteed. So Zerodha must also challenge TN in Madras High Court.
------------
Take pain to explain the fact bcoz zerodha explained my query well here.
Broker client relationship must be always give and take (in TJ also).
Cheers.
xsis,
Download the ZerodhaChargeList form their web site, all stamp duty is clearly mentioned there.
If you are from Gujrat, Stamp duty for Gujrat is only 0.002% for futures from Zerodha same as ShareKhan. Open a account with Rs 300 only, trade with Rpower again, see your contract note in your own eyes and believe it.
------------------
Here is the reason why you (and some other friends) find it difficult to understand their present stamp duty structure.
Many big brokers like ICICI, ShareKhan follows fixed stamp duty according to Maharashtra which is 0.002% as their main branch.
Zererodha followed 0.01% or Rs 50 which is rate of Bangalore [Karnataka]. Using that that they attracted high frequency & volume traders. Although their turnover charge is high, they got that extra Rs 150/Cr benefit. As their turnover is increased, some state Govt like TN, Guj, Maharastra send notice to them to apply higher stamp duty according to such states as such states has no max cap facility. Zerodha started to apply the Stamp Duty according to such 4 states which causes anger from their clients.
Now after a notice a broker is bound to obey the rule or the broker can challenge that rule in the court immediately.
Some other Maharastra based brokers like Aditya Birla Money, Geojit BNP Paribas Financial Services, Kotak Securities and Sharekhan already got notice from TN for sure. They challenged it to Madras High Court & has won an interim injunction against recent changes in the stamp duty structure in Tamil Nadu. So they are also currently charging as old rates.
I have posted the link here, it is for you again.
http://articles.economictimes.india...ecurities-and-sharekhan-tamil-nadu-duty-rates
Some brokers with less clients not got notice from such states so that they also charging fixed rate of 0.002%.
That is the reason that Zerodha is charging differently stamp duty for 4 states currently.
-----------------
But I personally feel Rs 600 [TN] or Rs 1000 stamp duty [WB] with no max cap is too much bcoz trading is not like reality business, here profit is not guaranteed. So Zerodha must also challenge TN in Madras High Court.
------------
Take pain to explain the fact bcoz zerodha explained my query well here.
Broker client relationship must be always give and take (in TJ also).
Cheers.
Now here is the problem,
an icici who charges Rs 5000 per crore can afford to go fight out knowing that if they loose the case, they will have to pay Rs 600 + penalty from the Rs 5000 they have charged the client already..
Imagine the same scenario with brokers like us who charge very less, we probably would have made Rs 300 per crore and if we loose Rs 1000/crore( Rs 600 +penalty), it will be from our pockets. If the turnover is big even by a few clients, this could be detrimental for the business and indirectly to the clients ..
It would be active already, download it from here: http://trade.zerodha.com/AppDownload/servlet/download
