RKSV - Unlimited Online Trading @ 1947/-

Status
Not open for further replies.
I shouldn't be mixing up different brokers' threads, but here is a typical problem that a trader faces, and response from different brokers will be welcome. I am posting the relevant details here.

We all pay stamp duty on NSE derivatives contracts but I was under the impression that the rate of stamp duty payable is as per the stamp duty applicable in the state in which broking house is registered.

A friend of mine who stays in Maharashtra has opened a trading account with a broker having registered office ( and only one office) in Maharashtra . But as the friend came on transfer from West Bengal and he does not have address proof of Maharashtra, he gave his permanant West Bengal address.He trades Nifty Futures and Bank Nifty Futures on NSE which is registered in Maharashtra.In Maharashtra , the stamp duty payable on non delivery securities contract is @0.002 % but my friend's broker is charging him @0.01% which is 5 times the duty applicable in Maharashtra on the grounds that his address is in West Bengal and West Bengal stamp duty rates are applicable.

What is the correct position on this point ? Is there any circular from NSE to this effect clarifying the stamp duty rates applicable as per address of the client or the registered office of the broker ?

..........
..........

..is there any document to support ?

If some circular on this can be obtained then the matter can be taken up with the stock broker/ NSE

Smart_trade
 
I shouldn't be mixing up different brokers' threads, but here is a typical problem that a trader faces, and response from different brokers will be welcome. I am posting the relevant details here.
Hi timepass,

Well we are aware that MH has a stamp duty structure for both in-state and out-of-state traders that go through MH brokers. As for being in other states, the rules are not completely clear :annoyed: so we're going to look into it to see what we can do later on. We haven't received any straight-forward answers yet from the authorities.

However, as someone mentioned earlier, there is a push to move to a flat stamp duty across India which, as long as is the lowest amount charged by any state, would be welcome by brokers.

Best,

RKSV
 
Thanks.

1) I am in Gujarat. If I open an a/c with you, how much stamp duty will be charged ?
2) The 250 Rs. account opening fees, does one send you a cheque for it with the form or does one transfer it through NEFT etc. after opening the account (and send a cancelled cheque with the form).
Hi timepass,

Well we are aware that MH has a stamp duty structure for both in-state and out-of-state traders that go through MH brokers. As for being in other states, the rules are not completely clear :annoyed: so we're going to look into it to see what we can do later on. We haven't received any straight-forward answers yet from the authorities.

However, as someone mentioned earlier, there is a push to move to a flat stamp duty across India which, as long as is the lowest amount charged by any state, would be welcome by brokers.

Best,

RKSV
 
Thanks.

1) I am in Gujarat. If I open an a/c with you, how much stamp duty will be charged ?
2) The 250 Rs. account opening fees, does one send you a cheque for it with the form or does one transfer it through NEFT etc. after opening the account (and send a cancelled cheque with the form).
Hi timepass,

1) MH stamp duty. MH stamp duty is structured so that people outside of MH get those rates.
2) Cheque for Rs 250/- would be best. Along with a cancelled cheque.

Best,

RKSV
 
Hello! currently i have an account with sharekhan and i am a new trader.
I am more interested to trade in Nifty Near call & Puts.
Sharekhan is charging me 140 points for per lot (Buying + selling). Suppose if i buy a nifty lot of call than i need to pay them 140 Rs. per lot for buying & selling.

How much do you people charge for this?
I have already submit a query call in your website.

Do you provide your software application like sharekhan??
what about the support?
 
Hello! currently i have an account with sharekhan and i am a new trader.
I am more interested to trade in Nifty Near call & Puts.
Sharekhan is charging me 140 points for per lot (Buying + selling). Suppose if i buy a nifty lot of call than i need to pay them 140 Rs. per lot for buying & selling.

How much do you people charge for this?
I have already submit a query call in your website.

Do you provide your software application like sharekhan??
what about the support?
Hi Manish,

We have spoken to you over the phone earlier today, but to clarify, you can get the full transaction costs here at http://rksv.in/calculator.html. For one nifty call valued at Rs. 100, you will pay Rs. 9.88 for doing a buy AND a sell. Of course, keep in mind you are paying a monthly fee for that. :)

Our software is NSE NOW and support is provided via email and phone.

Best,

RKSV
 
Hi Manish,

We have spoken to you over the phone earlier today, but to clarify, you can get the full transaction costs here at http://rksv.in/calculator.html. For one nifty call valued at Rs. 100, you will pay Rs. 9.88 for doing a buy AND a sell. Of course, keep in mind you are paying a monthly fee for that. :)

Our software is NSE NOW and support is provided via email and phone.

Best,

RKSV
Hello! Thanks.

In your website there is one thing mention
Calculated on a base Nifty Futures value of 5000. Monthly charges are calculated by using a 20 day month. Values are based on intraday turnover done.

- Call and Trade facilities are available at Rs 25 per call. In addition, a charge of Rs 25 will be levied per order traded (for Call and Trade only).




Please explain this also.
 
Status
Not open for further replies.