Starting sub brokership firm -INDIVIDUAL /SOLE PROPRIETOR which is best one ?.

[getravi79]

Hi Gulshan Ranjan,

Thanks for your advice.Is TDS deduction of 10.33% on monthly payment/revenue share applicable to SOLE PROPRIETOR also ?.or is it only applicable to individual ?.Kindly reply me.

 

[gulshanranjan]

will applicable to all for first 3 months, there after u can discuss ur revenue exptaion & tax savings and ask them to stop TDS deduction if income in not expected to reach tax slab.

 

[pali.sembhy]

Hi PAWAN GARG,Vijay,Rajendra

I am not starting in partnership.planning to start myself.
I made enquirey.Sole propretiorship needs more paperwork than individual.
so have decided to do as individual.

Thanks a lot for your replies.

Hi Rajendra,

I talked with Angel Broking.They ask Rs one lakh as deposit.Further they need
Rs 250 for each segment for every month.
Can u please inform who is your broker providing 50k deposit ?.
Kindly reply as soon as possible.

if ur r planning for sub broker let me show u the right path. if u r interested to become sub broker n looking for right broker ur search ends here.
plz mail me at [email protected] , also mention ur phone number and location!
i will revert with the BEST PROPOSAL.ITS A PROMISE!

 

[bbboy]

Dear gulshan ji,
I am interested in sub-brokership
pls. shower some details on CTCL ID etc.. ?
what is this CTCL and how much angel charge for this ?
also shower some light on best deals for sub-brokership
thanks in advance
bbboy

 

[darkstar]

yesterday vijya bank inaugurates its equity trading branch it is good brand name and most it is new so they need sub brokers why not you contact them.

 

[bbboy]

Can anyone know about the below mentioned ?

I am in talks with one brokerage house for sub-brokership.

They told me that there are 2 kinds of registration and I can go for anyone but both are same in terms of work etc :--

1) Register thru us and they will register directly in excahnges like NSE BSE MCX etc..
for this they will charge Rs.2206 each per segment ( Segment : NSE-cash, NSE F&O, NSE-Currency, BSE, MCX-Commodity, MCX-Currency, NCDEX ) so if i will go for all these then it will cost me Rs.2206 x 7 (segment) = Rs.15442.

2) Another way is that I can Directly register myself with SEBI and after that I can become there sub-broker for this I need to pay Rs.12250 per segment directly to SEBI.

So, now my Question is that what is the diffrence between these two diffrent type of registrations for sub-broker ?
As per that brokerage house marketing person he said that there is no diffrence, and infact he said that if I go directly for SEBI registration then it cost me much more per segment wise and it take around one whole year to get the registration certificate.

I am confused and feeling handicapped b'coz no proper information is available and I cant 100% trust these marketing persons of brokerage house.
Why there is so much diffrence in amount of direct SEBI registration and registartion thru brokerage house / exchanges ?

If I register thru brokerage house then they will register me direcly thru NSE, BSE and MCX exchanges. Is there any problem in that ? any kind of trap in future ? Is it legal in this way ? or in future I get in trouble
Or This brokerage house will take any kind advantage in future by saying that I am not registered yet and they takeover my clinets or not pay me fully or any kind of problem etc...

Pls. can some experienced sub-broker put some light on this issue ? As I am totaly confused.

Pls. guide
Thanks in adavance

 

[VijayDT]

Can anyone know about the below mentioned ?

I am in talks with one brokerage house for sub-brokership.

They told me that there are 2 kinds of registration and I can go for anyone but both are same in terms of work etc :--

1) Register thru us and they will register directly in excahnges like NSE BSE MCX etc..
for this they will charge Rs.2206 each per segment ( Segment : NSE-cash, NSE F&O, NSE-Currency, BSE, MCX-Commodity, MCX-Currency, NCDEX ) so if i will go for all these then it will cost me Rs.2206 x 7 (segment) = Rs.15442.

2) Another way is that I can Directly register myself with SEBI and after that I can become there sub-broker for this I need to pay Rs.12250 per segment directly to SEBI.

So, now my Question is that what is the diffrence between these two diffrent type of registrations for sub-broker ?
As per that brokerage house marketing person he said that there is no diffrence, and infact he said that if I go directly for SEBI registration then it cost me much more per segment wise and it take around one whole year to get the registration certificate.

I am confused and feeling handicapped b'coz no proper information is available and I cant 100% trust these marketing persons of brokerage house.
Why there is so much diffrence in amount of direct SEBI registration and registartion thru brokerage house / exchanges ?

If I register thru brokerage house then they will register me direcly thru NSE, BSE and MCX exchanges. Is there any problem in that ? any kind of trap in future ? Is it legal in this way ? or in future I get in trouble
Or This brokerage house will take any kind advantage in future by saying that I am not registered yet and they takeover my clinets or not pay me fully or any kind of problem etc...

Pls. can some experienced sub-broker put some light on this issue ? As I am totaly confused.

Pls. guide
Thanks in adavance

In this post, you don't know anything about subbrokership and its registration process, and as of today i.e. 10 July(in some other thread) you are complaining of a broker charging you Service Tax on the commission earned. Please tell me how did you get yourself registered so fast???

 

[bbboy]

In this post, you don't know anything about subbrokership and its registration process, and as of today i.e. 10 July(in some other thread) you are complaining of a broker charging you Service Tax on the commission earned. Please tell me how did you get yourself registered so fast???

I am complaing b'coz I am in talks with 3-4 brokers out of all those only ANGEL BROKING asked me for service tax deduction ( 10.33%) from monthly payout.
I am not sub-broker yet, but in talks with 3-4 main brokers, and hope fully will freeze one of the best out of all those.
But I really surprised how come Angel can ask for service tax deduction ? it is purely a illegale act.
I surely will not join those brokers who are doing or misleading there business associate even before they join, u can think what happen when i join them , they will do every possible illeage practoce thing which can lead me to losses or tension etc..
If i take sub-brokership of such main brokers who doing this things , it mean i will also putting my customers into big risk, b'coz this business is directly affect customers financial health.

my main concern is that, how can Angel representative ask for service tax ? if he is asking t5his tax it means they will also deducting these tax from some sub-brokers also. This is only my main concern.
I have no bad intensions for any broker or company. Infact i am not into this sub-brokership business yet, but will become sub-broker in coming time as i am in talks with some company, will finalise one of them for sure.

Thanks
:annoyed:

 

[sudip_mfa]

Which is more beneficial. Joining with other sub-broker doing own business as usual.I am from Kolkata. I have talked with some unknown broker of south India based. They have no branch in Eastern Region. They offer me additional Pro Account for me. I am planning to start a jobbing/arbitrage desk with normal sub broking business. I think It may be cost effective. and quickly reach at breakeven point. But for that I required some seed money which I don't have. Please suggest about my objective and how should I get that seed money.

 

[gulshanranjan]

Dear Bboby & rest all,

Cool down & don't get angry on angel representative. Actually you should thank

1) its is not service tax but TDS which is 10.33% deduction as per govt rule. so its totally legal. All broking house charge it but they don't have guts to tel u in front in beginning. so at least Angel told u in beginning, u should be thankful.

2) If both the scheme were same, there can't be different changers. The costly one which ask somewhere near 27,500 for NSE, BSE & F&O will give u direct certificare from SEBi to run your sub-broking which u have to show in your office space. i belive u might have noticed some certificates shown on walls of all broking house. its something like that.

the other one make u business associates, remiser or anhy other thing. both is legal but not same. the second option wil be faster in paper work as SEBI takes around 2-3 months in first kind of registration.

Hope this will solve your prob. I request you to not blame any company till u get facts right.


Happy trading
Gulshan Ranjan

Disclosure : I am not associated with angel in any manner but worked with them earlier