KARVY STOCK BROKING Ltd. has deducted Stamp Duty charges @ 0.01%
on turnover for Intra-day trading, but ICICI Securities Ltd. has deducted @ 0.002% on same instrument. KARVY explained - it is applicable as per norms of West Bengal Stamp Duty Charges. Now, my question is who is correct and what should be the correct rate? Here, it is worth to be mentioned that both broker is registered under NSE/SEBI, both are in West Bengal and Stamp Duty Charge is a statutory deduction, directed by the Union, then how the rate for a same instrument could differ from one broker to another broker. May I request to kindly help me by providing the correct and authentic information on the issue mentioned above. My specific query is, WHAT SHOULD BE THE RATE OF STAMP DUTY CHARGE APPLICABLE IN WEST BENGAL (IF IT DOES VARY FROM ONE STATE TO ANOTHER STATE) ON INTRA-DAY EQUITY TRADING, NOT FOR DELIVERY TRADING (its rate is 0.01% on turn over.).
on turnover for Intra-day trading, but ICICI Securities Ltd. has deducted @ 0.002% on same instrument. KARVY explained - it is applicable as per norms of West Bengal Stamp Duty Charges. Now, my question is who is correct and what should be the correct rate? Here, it is worth to be mentioned that both broker is registered under NSE/SEBI, both are in West Bengal and Stamp Duty Charge is a statutory deduction, directed by the Union, then how the rate for a same instrument could differ from one broker to another broker. May I request to kindly help me by providing the correct and authentic information on the issue mentioned above. My specific query is, WHAT SHOULD BE THE RATE OF STAMP DUTY CHARGE APPLICABLE IN WEST BENGAL (IF IT DOES VARY FROM ONE STATE TO ANOTHER STATE) ON INTRA-DAY EQUITY TRADING, NOT FOR DELIVERY TRADING (its rate is 0.01% on turn over.).