Charges, STT and Capital Gains

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thefuntom (Querist)
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12 October 2010 Dear Sir/ Madam,

I have a trading account with ICICIDIRECT and the charges apart from the brokerage are STT, Transaction and SEBI Turnover charges, as well as stamp duty.

Would these charges be levied for both a purchase as well as a sale transaction? What are the applicable rates vis-a-vis charges applied by ICICIDirect
STT - 0.125% of turnover
SEBI Charges - .0001% of turnover
Trx charges - .0031% for NSE of turnover
- .0035% for BSE of turnover
Stamp Duty - .01% of turnover

How are capital gains taxed now?Can someone explain in layman's terms, and how does STT feature in this?

CA Shailesh Kumar Bhagat

CA Shailesh Kumar Bhagat (Expert)
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12 October 2010 Would you think - this is the correct site to make this type of question. charges varies. better to read the document which was provided while opening the trading a/c.

thefuntom

thefuntom (Querist)
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13 October 2010 Mr. Bhagat, unfortunately not for you but for me it seems a valid point.

I asked a perfectly valid question as to what are the norms. I am not aware of the variations and which of these charges are levied once and how does intraday trade affect these charges!

And to add a sour note, your english needs a little polishing, wonder how you cleared the certification.

Plus even if i go through the whole document including the fine print, since its not my field of experience these clauses phase out from memory.

So will someone please answer my question!

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amit

amit (Expert)
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30 December 2010 ICICI will charge you approximately 0.92% on total deal value for purchase and sale transactions saprately.

If you are holding the shares or mutual fund for more then one year then you will charged with Long Term Capital Gain which is exempt.

And if you sale the shares with in a year then 15% tax on your profit termed as short term capita gain adjusted with your short term capital loss should be paid to income tax authorities irrespective of your income in other heads.

For Intraday transaction the charges are 0.05% on purchase and sale of securities.

I will advice you to open an demat account with any of the broking firms like India Infoline, Edwelsis, Angel broking etc. as they will charge less amount of brokerage as compared to ICICI (o.5% instead of 0.92%)