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All money going for tax and brokerage

Discuss All money going for tax and brokerage at the Intraday within the Traderji.com; I do intraday trading ........i buy and sell shares with a gap of 50 paisa ...


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  #1  
Old 31st August 2016, 12:02 AM
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Default All money going for tax and brokerage



I do intraday trading ........i buy and sell shares with a gap of 50 paisa ...

i do it couple of times in a day ..i buy and sell around 200 shares ...and do it 4 to 5 times a day

but i see more than 50% of profit going to brokerage and taxes ... i have an account in edelweiss

Please advice


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Old 31st August 2016, 12:10 AM
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Default Re: All money going for tax and brokerage

Quote:
Originally Posted by AndhraCement View Post


I do intraday trading ........i buy and sell shares with a gap of 50 paisa ...

i do it couple of times in a day ..i buy and sell around 200 shares ...and do it 4 to 5 times a day

but i see more than 50% of profit going to brokerage and taxes ... i have an account in edelweiss

Please advice
Change to some discount brokers who provide flat rate brokerage

DM
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Old 31st August 2016, 01:29 AM
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Default Re: All money going for tax and brokerage

Quote:
Originally Posted by AndhraCement View Post


I do intraday trading ........i buy and sell shares with a gap of 50 paisa ...

i do it couple of times in a day ..i buy and sell around 200 shares ...and do it 4 to 5 times a day

but i see more than 50% of profit going to brokerage and taxes ... i have an account in edelweiss

Please advice
You can not reduce taxes (except service tax on brokerage) by shifting to a discount broker and taking monthly plan.
Go through brokers platform thread in the forum and take your decision. Some of such brokers (not in any order) are SASonline, RKSV, TSO, DPL, Wisdom. Also not suggesting any particular broker. Study their other charges, their reviews and choose. It will be your own decision.
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Old 31st August 2016, 04:31 PM
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Default Re: All money going for tax and brokerage

Quote:
Originally Posted by niftygupshup View Post
You can not reduce taxes (except service tax on brokerage) by shifting to a discount broker and taking monthly plan.
Go through brokers platform thread in the forum and take your decision. Some of such brokers (not in any order) are SASonline, RKSV, TSO, DPL, Wisdom. Also not suggesting any particular broker. Study their other charges, their reviews and choose. It will be your own decision.
Now i am consused as to which to go with ...
I already have in sharekhan and edelweiss and both charge more
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Old 31st August 2016, 05:15 PM
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Default Re: All money going for tax and brokerage

200 shares and 50p profit means net profit of 100. Between brokerage and taxes even with a discount broker you won't be left with much. Either reduce quantity and try catching larger moves ( Incase you don't want to invest more ) or with same q look at larger moves. 100 rupee profit before brokerage and taxes is not sustainable from a longer term perspective unless your looking at only learning as of now. Among brokers go for either rksv or zerodha. Both similar.
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Old 31st August 2016, 06:40 PM
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Default Re: All money going for tax and brokerage

I would love catching larger moves but i hardly find them ......max two times a week .

I generally follow shilpi cable , pricol and mothersumi

If i have to do regularly i am able to find only smaller moves i.e 50ps

Can you suggest some stocks where i can find big moves .....

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