What is normal transaction charge?

Discussion in 'Investors Grievances' started by Shrutip, Dec 7, 2009.

  1. Shrutip

    Shrutip New Member

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    Hello,

    Can you please tell me what are normal transaction charges levied? I had a selling transaction on delivery basis under bse of around Rs. 600. For that i was charges Rs. 10. It is proper?
     
  2. bunny

    bunny Well-Known Member

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    See your contract note. It will include the break up of the charges as brokerage, service tax over brokerage, STT, turnover charges, education and higher edu cess, stamp duty charges. If there is anything mentioned as "Other" or "Miscellaneous", ask your broker to clarify these.

    What is your brokerage rate?

    Which shares did you sell?
     
  3. Shrutip

    Shrutip New Member

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    The charge isn't mentioned in the contract note. It was deducted from my trading account. My brokerage charges are 0.3%. I sold the shares of Bliss GVS Pharma. I asked my broker he said that this 10 Rs. transaction charge is levied on every sell transaction on delivery basis.
     
  4. bunny

    bunny Well-Known Member

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    At the rate of 3 paise, brokerage for selling amt 600 comes to around 18 paise. Since 18 ps is too low, he may have charged you something like minimum brokerage, or say Rs. 6. Ask them the minimum brokerage.

    Also, since that share is only Rs 32, he may have charged you some special brokerage. Many brokers do such things when the cost of the share is less than a particular amount, say 100 or 50.

    BTW who is your broker? He sounds quite unprofessional in not mentioning the charges. I am trading with sharekhan and they provide account of every paisa of the bill.
     
  5. vmonu

    vmonu Member

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    Hi
    As far as my observation, transaction charge is:
    • NSE= 0.00335%(Delivery),0.0037%(Intraday)
    • BSE= 0.00360%(Delivery)
     
  6. Shrutip

    Shrutip New Member

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    My account is with Karvy Stock Broking. I asked them they are saying the 10 Rs. charge is charged by karvy hence there is no mention on the contract note. He said that irrespective of amount or type of share, 10 Rs. will be deducted from every transaction. He says that it is a holding charge for the scrip.
     

  7. Shrutip

    Shrutip New Member

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    Are you sure Sharekhan doesnt do that? If so i would prefer switching over to Sharekhan.
     
  8. bunny

    bunny Well-Known Member

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    There is definitely no "holding charge" that is "unaccounted". Every charge is mentioned on the contract note cum bill.

    I wonder what this holding charge is, and wonder more why they don't give the bill or receipt.
     
  9. Nagrajs.777

    Nagrajs.777 New Member

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    Hi...
    Good eve Sir/Mam,

    Could u plz tell me is it the right time to invest money in market ?
     
  10. Shrutip

    Shrutip New Member

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    I mailed them and they replied me with the scenarios in which Rs.10 is charged. They are as below :
    Client purchased shares on Monday and sold on Tuesday he will be charged with rs.10 per script

    Client has his stock lying with us which he has purchased 2 months backnow he sells he will be charged with rs.10 per script

    Client has his stock lying with us which he has purchased 2 months back now he asks for payout to his demat account..he will be charged with rs.10 per script

    Client has purchased shares and opted for auto payout no charges

    Client has purchased shares on Monday and sold on Friday he will be charged with rs.10 per script.

    Client has shares in cash margin and wants to transfer shares to fao for marginclient will be charged with rs.10 per script

    Client sells the shares in cash market which are lying in fao margin client will be charged with rs.10 per script.

    Client has margin short fall in fao and we move stocks from cash margin to fao client will be charged with rs.10 per script.

    Client purchased shares in nse on Monday and sold subsequently in bse client will be charged with rs.10 per script.

    Are these charged in every broking firm?
     

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