Stamp Duty on Cash Share Market Transaction

POSTED BY Rinks ON January 17, 2013 12:54 pm COMMENTS (3)

I am hoping that my broker is charging me very high Stamp Duty for transactions less than 10,000/-.

Need your help in understanding Stamp Duty structure in Maharashtra.

Following are my details

– Broker: Mumbai/Maharashtra Based (Ventura1)

Stamp Duty Being Charged:
– 1/- flat if turn over is less than 10,000/-
–  for 10,000/- or greater turn over, its 0.01% of Turn Over

Can you get me Stamp Duty rate for CASH(Intraday/Delivery), FnO at your broker? – Logically should be same for all clients across brokers for given state.
If you have some links/documents then send across.

I asked them to give me reference document but they don’t have it.

 

Please help me in solving this so that i can go ahead and ask them to refund my money

3 replies on this article “Stamp Duty on Cash Share Market Transaction”

  1. Dear Rinks, had you checked the link & noted down your eligible stamp duty rate?

    Thanks

    Ashal

  2. Dear Rinks, are you into investing or trading? if you are in investing i.e. buy & hold type, this 1Rs. should not hurt you but in case you are a trader, well every rupee counts.

    Please check the below link for more details on exact nature of stamp duty.

    http://www.thehindubusinessline.com/industry-and-economy/government-and-policy/article1564987.ece?homepage=true

    Thanks

    Ashal

    1. Rinks says:

      Mr. Ashal,
      It’s not a matter of Investor or trader but i am talking about ethics.
      As per my knowledge, Stamp Duty is handled by Government and not broker could modify that rule for personal benefit.

      I just want to know that whether my Broker is charging me more. I dont mind charging me more on Brokerage but he can’t do anything at Stamp Duty level.

      So want clarification on that.

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