Today, I got marketing email from State Bank for Demat account. Since I already have demat account with diff brokers, I was about to delete this email. But, before deleting, I accidentally read the last line....
There are no trading transactions in which I have not had to paid the stamp duty! And I reckon that is true for all (most) of us...
Question is that if there is no stamp duty for demat account, who is getting the stamp duty?
Even the brokers who do provide online calculator dodge this by not showing calculations on screen.
STATE BANK OF INDIA - Banker to Every Indian
Dear Customer,
FREE SBI Demat Account
SBI has tied with SBI Cap Securities Ltd to offer a FREE Demat & Trading account (worth Rs.850/-) alongwith waiver of 1 st year Annual Maintenance Charges (AMC). This is a limited period offer.
Why Demat Account:
1. Mandatory to convert physical shares certificates into dematerialised form to sell the shares
2. Mandatory to apply in IPO's and Offer to Sale (OFS)
3. Investments in dematerialised form are safe, secure and convenient.
4. Account for the future, as all financial documents are likely to be issued in dematerialized form in future.
Advantages of Demat Account:
1. Bonus/Dividends/Right shares/Split Shares allotted to the investor are immediately credited into the Demat account.
2. Transaction costs are lower than that in the physical segment.
3. No risk due to loss on account of fire, theft or mutilation.
4. A Demat account helps avoid problems typically associated with physical share certificates viz. delivery failures due to signature mismatch, postal delays, loss of certificate during transit, risks associated with forgery.
5. Reduced transaction cost as the scrips are stored electronically & hence there is no stamp duty to be paid.
How to get your free Demat Account:
Please SMS Demat to 567676
Dear Customer,
FREE SBI Demat Account
SBI has tied with SBI Cap Securities Ltd to offer a FREE Demat & Trading account (worth Rs.850/-) alongwith waiver of 1 st year Annual Maintenance Charges (AMC). This is a limited period offer.
Why Demat Account:
1. Mandatory to convert physical shares certificates into dematerialised form to sell the shares
2. Mandatory to apply in IPO's and Offer to Sale (OFS)
3. Investments in dematerialised form are safe, secure and convenient.
4. Account for the future, as all financial documents are likely to be issued in dematerialized form in future.
Advantages of Demat Account:
1. Bonus/Dividends/Right shares/Split Shares allotted to the investor are immediately credited into the Demat account.
2. Transaction costs are lower than that in the physical segment.
3. No risk due to loss on account of fire, theft or mutilation.
4. A Demat account helps avoid problems typically associated with physical share certificates viz. delivery failures due to signature mismatch, postal delays, loss of certificate during transit, risks associated with forgery.
5. Reduced transaction cost as the scrips are stored electronically & hence there is no stamp duty to be paid.
How to get your free Demat Account:
Please SMS Demat to 567676
There are no trading transactions in which I have not had to paid the stamp duty! And I reckon that is true for all (most) of us...
Question is that if there is no stamp duty for demat account, who is getting the stamp duty?
Even the brokers who do provide online calculator dodge this by not showing calculations on screen.
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