As I understand the STT(securites transaction tax) is charged @0.1215%of the net amount of transaction I.E. (sell/buy rate+brokerage)*01215%.
whereas servie tax on brokerage is charged at 12.20% of the brokerage.
brokers are also charging turnover tax which seems to be 0.15% of the transaction.However from the contract notes the exacts %ages are difficult to determine as some of them round off the figures and others give figures of gross charged taxes and avoid individual figures for different taxes levied. I feel there is some bungling going on in this respect also despite same guidelines of SEBI.
for example 5paisa.com charge Regu. tax which no body know what it means,and which to me is a combination of taxes and ,which taxes- the investors are never told.
Sharekhan.com do not round off STT but 5 paisa .com round off to their advantage.They show stamp duty tax separately.
these are my observations.
I am new to this group.
I wish hello to everone and shall be glad to know from experienced members whether the above observaions are in order. and further what is the rate at which stamp duties are charged in respect of day trading and delivery based trading.
further how many total taxes are levied on a helpless investor.?
wheteher there exists a software to determine the same? with the accurate rates applicable to asess whether brokers are charging as per the rules.
vkwd7
