Dear Member,
I have just received an email from my broker regarding hike in stamp duty in U.P. Chart is as below:
States Nature of Transaction Existing Rate (%) Revised Rate (%)
Kerala Cash Segment - Delivery 0.01 0.005
Cash Segment - Jobbing 0.002 0.005
F&O Segment 0.002 0.005
Karnataka Cash Segment - Delivery 0.01 0.01
Cash Segment - Jobbing 0.002 0.01
F&O Segment 0.002 0.01
Uttar Pradesh Cash Segment - Delivery 0.01 0.05
Cash Segment - Jobbing 0.002 0.05
F&O Segment 0.002 0.05
There is 5 times hike in cash delivery & 25 times hike in intraday & FNO.
It means if we trade in future we will have to pay around 250/- (assume nifty @5000) per lot towards stamp duty....oh my god.. 5 points of nity for stamp duty..it is disgusting...
Ab to lagta hai UP walon ko apni dukan band karni padegi
Please correct me if i am wrong....
regards
Abhi
Edit: if this information is correct then we will have to shift ourselves from future to option bcz there is stamp duty on premium only and that will not hurt like future...
I have just received an email from my broker regarding hike in stamp duty in U.P. Chart is as below:
States Nature of Transaction Existing Rate (%) Revised Rate (%)
Kerala Cash Segment - Delivery 0.01 0.005
Cash Segment - Jobbing 0.002 0.005
F&O Segment 0.002 0.005
Karnataka Cash Segment - Delivery 0.01 0.01
Cash Segment - Jobbing 0.002 0.01
F&O Segment 0.002 0.01
Uttar Pradesh Cash Segment - Delivery 0.01 0.05
Cash Segment - Jobbing 0.002 0.05
F&O Segment 0.002 0.05
There is 5 times hike in cash delivery & 25 times hike in intraday & FNO.
It means if we trade in future we will have to pay around 250/- (assume nifty @5000) per lot towards stamp duty....oh my god.. 5 points of nity for stamp duty..it is disgusting...
Ab to lagta hai UP walon ko apni dukan band karni padegi
Please correct me if i am wrong....
regards
Abhi
Edit: if this information is correct then we will have to shift ourselves from future to option bcz there is stamp duty on premium only and that will not hurt like future...