stamp duty Rates

saivenkat

saivenkat

Well-Known Member
#2
#2
thatzamit said:
Hi

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

Thanks in advance
Click to expand...
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:
 
D

DDK_CHENNAI

Member
#3
#3
sorry u r wrong... there's no stamp duty in tamilnadu for both equity and fo...

saivenkat said:
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:
Click to expand...
 
saivenkat

saivenkat

Well-Known Member
#5
#5
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%.
 
A

anuragmunjal

Well-Known Member
#6
#6
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

alroyraj

Well-Known Member
#7
#7
anuragmunjal said:
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
Click to expand...
nac said:
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 -
Code: 
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.
Click to expand...
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.

kaushikbanerjee said:
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%).
Click to expand...
 
kaushikbanerjee

kaushikbanerjee

Active Member
#8
#8
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 !!!!!
 
N

niteshlohia

New Member
#9
#9
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.
 
U

ubertrader

New Member
#10
#10
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.
 
You must log in or register to reply here.
Thread starter Similar threads Forum Replies Date
N For intraday trading, what percentage of your profits do you pay as brokerage + taxes (STT + turnover charges + stamp duty etc) Risk & Money Management 0
O Stamp duty for Uttar Pradesh increased by 25 Times Brokers & Trading Platforms 52
B Stamp Duty Charge Taxation Matters 1
M About stamp duty charge Introductions 0
A stampduty in fao tamilnadu Investors Grievances 4

Similar threads