I am from mumbai and have account with Ventura1 Securities.
Though account was opened year back was not using for trading.
In Jan 2013, I started trading with BUYING 1 share of "MAHINDRA SATYAM" at 103/-.
When i viewed my Contract Note, It was some weird values being charged in "STAMP DUTY".
They charged me 1/- flat for stamp duty on 102/- turn over. But i know that Stamp duty is 0.01% of turn over. On complaint, They called me back and told that Stamp Duty is 1/- flat for turn over less than 10,000/- .. Means higher of 1/- or 0.01% of Turn Over.
Can someone from Mumbai, Help me understanding this? Why such high stamp duty being charged?
Thanks,
Rinkesh Patel
Though account was opened year back was not using for trading.
In Jan 2013, I started trading with BUYING 1 share of "MAHINDRA SATYAM" at 103/-.
When i viewed my Contract Note, It was some weird values being charged in "STAMP DUTY".
They charged me 1/- flat for stamp duty on 102/- turn over. But i know that Stamp duty is 0.01% of turn over. On complaint, They called me back and told that Stamp Duty is 1/- flat for turn over less than 10,000/- .. Means higher of 1/- or 0.01% of Turn Over.
Can someone from Mumbai, Help me understanding this? Why such high stamp duty being charged?
Thanks,
Rinkesh Patel
