Hi all,
I've recently opened a Demat A/c with Sharekhan and have not started trading yet. Before taking Plunge into Stock market, I wanted to get few things clarified.
First of all, I like to be an IntraDay Trader i.e., buy stocks today and sell it tomorrow.
Q) I'm under the impression that if I buy 100 shares of ABC Company @ Rs.100 per share and sell it on the same day @ Rs.107 per share, I stand to gain Rs.700.
Now my queries are as follows.
1. If my Brokerage fee is 0.5 %, do I've to pay 0.5% on buying side (Rs.100*100 sh = Rs.10,000/-) and on selling side as well(Rs.107*100 sh= Rs.10,700/-)
2. What is the rate of STT?
3. What is the rate of Service Tax?
4. In addition to Brokerage Fee, STT and Service Tax, DO I HAVE TO PAY ANY OTHER CHARGES?
5. As I prefer to be a Short-term trader, do i stand to gain tax benefits ?( as I pay STT).
6. Kindly, illustrate the above question (highlighted in yellow colour) in detail breaking up Brokerage Fee, STT and Service Tax and any other charges if applicable. And let me know what exact amount I gain?
7. Also I come across few Terminologies which I don't understand. They are First Leg, Second Leg, Delivery?
Help appreciated.
Thanks & Regards
Sangfroid
I've recently opened a Demat A/c with Sharekhan and have not started trading yet. Before taking Plunge into Stock market, I wanted to get few things clarified.
First of all, I like to be an IntraDay Trader i.e., buy stocks today and sell it tomorrow.
Q) I'm under the impression that if I buy 100 shares of ABC Company @ Rs.100 per share and sell it on the same day @ Rs.107 per share, I stand to gain Rs.700.
Now my queries are as follows.
1. If my Brokerage fee is 0.5 %, do I've to pay 0.5% on buying side (Rs.100*100 sh = Rs.10,000/-) and on selling side as well(Rs.107*100 sh= Rs.10,700/-)
2. What is the rate of STT?
3. What is the rate of Service Tax?
4. In addition to Brokerage Fee, STT and Service Tax, DO I HAVE TO PAY ANY OTHER CHARGES?
5. As I prefer to be a Short-term trader, do i stand to gain tax benefits ?( as I pay STT).
6. Kindly, illustrate the above question (highlighted in yellow colour) in detail breaking up Brokerage Fee, STT and Service Tax and any other charges if applicable. And let me know what exact amount I gain?
7. Also I come across few Terminologies which I don't understand. They are First Leg, Second Leg, Delivery?
Help appreciated.
Thanks & Regards
Sangfroid