Btst charges

#1
Hey all i am being charged Dp charges(InterDepository Debit ) by my broker IIFL even if i am doing BTST trades.So was wondering if that is normal practice? As the shares are sold by me even before i get delivery of them in my account.

Calculation given by them is ( Shares sold from your Beneficiary account calculated @ 0.04% on transaction value (Minimum Rs.25/- per debit transaction).
 

Vmaster369

Active Member
#2
If T+2 days only then charge of 25 be applicable .
if t+1 days is charged then change broker to zerodha . your broker is scamming you

Case1. You buy the stock today morning as CNC and sell the stock today itself before 3:20 pm as CNC. You are at T+0 day. Even though you have chosen the product type as CNC, you will be charged with Intraday charges only (i.e. STT of 0.025% see here http://zerodha.com/charge-list 94). Also there will not be any DP charges (flat Rs.13 per scrip only) in your demat account, since you have sold on same day.

Case2. You buy the stock yesterday morning as CNC and sell the stock as CNC anytime today. This is BTST concept (Buy Today and Sell Tomorrow). You are at T+1 day. In this case you need to pay all the charges as per Delivery trade since you have bought the stock and kept it overnight. So STT will be charged at the rate of 0.1%. But here since the stocks will be delivered to your demat account only by today evening (T+1 day evening or maximum T+2 day tomorrow morning), you are selling the stock before it reaches your demat account. So there will not be any DP charges in your Demat Account.

Case3. You buy the stock day before yesterday morning as CNC and sell the stock today anytime as CNC. You are at T+2 day. You will be charged like a normal Delivery charges. i.e STT of 0.1% will be charged, like usual. Since shares are already delivered to your demat account, yesterday evening or today morning, you have to bear the DP charges of Rs.13 also.

Case4. You buy the stock anytime 2 days before yesterday. That is you are at today T+3 or T+4 day, etc. In this case you need to bear charges similar to case 3. Both STT of 0.1% and DP charges of Rs.13. But here there is no risk of Short Delivery or Auction penalty, since the shares will be confirmed present in your demat account. In first 3 cases, you may face (very rare chance) of Auction Penalty, in case the seller whom from who bought the shares failed to give you the shares and defaulted.

T0 day – STT 0.025% - No DP Charges – No risk of auction penalty

T1 day – STT 0.1% - No DP charges – Risk of auction penalty

T2 day – STT 0.1% - DP charges applicable – Risk of action penalty

T3 day – STT 01.% - DP charges applicable – No risk of action penalty

Hope you understand. Cheers! :)
 
#3
Hi i got it...thanks...i am selling on T1 basis...still i am being charged..Please can you clarify further:-

1.Are other brokers apart from zerodha also not charging?

2.Is it possible to shift my demat account from iifl to zerodha or just the shares in the demat account...

3.How to avoid Risk of action penalty in T1 basis..is there any way?
 

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