Zerodha....

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sumosanammain

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#2,041
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Smart_trade said:
Earlier provision was STT was considered as a tax credit....something like Advancd Tax paid or Tax Deducted at Source......so if your tax liability works out to say 2,00,000 and if you had paid Rs 1,50,000 STT you could take that as a credit any pay the balance Rs 50,000 as tax.

Now the STT is considered as allowable expence....so you calculate profits by adding STT back and deduct STT as expence, makes no sense, only paper excercise.....as we get our bills after deduction of STT, it gives no relief to us in tax payments now.

Smart_trade
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WHy calculate profits by adding STT?

If I bought at 1000 and sold at 1020, net of all charges, bkg and stt, and on that I have paid 2 rs as STT. Why do I need to add that 2 rs? I have already paid it, in my contracts. So, while computing tax, should I not get a 2 rs deduction from my income of 20 rs?
 
Smart_trade

Smart_trade

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#2,042
#2,042
sumosanammain said:
WHy calculate profits by adding STT?

If I bought at 1000 and sold at 1020, net of all charges, bkg and stt, and on that I have paid 2 rs as STT. Why do I need to add that 2 rs? I have already paid it, in my contracts. So, while computing tax, should I not get a 2 rs deduction from my income of 20 rs?
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Yes...that was my question too to my CA.....but apparantly it seems they want profits to be calculated without deduction of STT and then deduct STT as expence.....which makes no sense.....but that is how it is....In your case profits are Rs 22 less 2 as STT and taxes.....taxable profit Rs 20.....you wont get taxed on 20-2=Rs 18 as profit......

Smart_trade
 
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sumosanammain

Well-Known Member
#2,043
#2,043
Smart_trade said:
Yes...that was my question too to my CA.....but apparantly it seems they want profits to be calculated without deduction of STT and then deduct STT as expence.....which makes no sense.....but that is how it is....In your case profits are Rs 22 less 2 as STT and taxes.....taxable profit Rs 20.....you wont get taxed on 20-2=Rs 18 as profit......

Smart_trade
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Anyone else having this issue?

Though the number of people going this way is about 3 in 100 max....... no wonder its not discussed. Hardly any trader has profits to go to a CA. The bitter truth it is. Though with Zerodha, I think many marginal losers and breakeven traders will get into profitable territory. Cheers to that
 
columbus

columbus

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#2,044
#2,044
columbus said:
Why symbols are like this NIFTY11MARFUT instead of NIFTY31MARFUT?
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Hi Sachin,
Even your SMS message reported as NIFTY11MARFUT.
How to draw chart using OHLC chart?Is it fully functional?
 
E

Easytrader

Active Member
#2,045
#2,045
Zerodha said:
The good thing about Stamp duty in Karnataka is that the max stamp duty per day is Rs 50 .... Unlike other states where stamp duty is anywhere from Rs 200/cr to Rs 1000/cr... If you trade only 1 lot of the whole day, the stamp duty would be a big component...

For 1 lot of futures(buying 1 lot selling 1lot):
Brokerage would be Rs 40(20+20), STT around Rs 50, Transaction: around Rs 30, Service tax: around: Rs 7 , Stamp duty: Rs 50(max per day)...

But if you trade 1 lot multiple times, the stamp duty will not increase.. So, if you are trading 1 lot 3 times a day, the effective rate for doing 1 lot of nifty will come down to Rs 135 including all charges....

If you are trading multiple lots at a time the breakeven points would be much lesser... For 2 lots breakeven 2.5pnts, 3 lots 2.2pnts, 5 lots 1.97, 10lots 1.78 and so on....

For futures the component that kills active intraday traders has to be STT , STT with us sometimes is 5 times more than actual commissions paid to us for more active intraday traders....

Cheers....
Click to expand...

Same scenario happens with intra day cash stocks too..right for example suppose one buys 200 infy intra day what will be the breakeven..??
 
Dawood

Dawood

Active Member
#2,047
#2,047
If iam having two accounts..... is it possible to login with one account in .exe and another with web based express at the same time from my system and trade both the accounts simultaneously.

Dawood
 
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