Rate of stamp duty charge on intra-day equity trading.
Dilip Kumar Mondal
(Querist) 13 April 2012
This query is : Resolved
KARVY STOCK BROKING Ltd. has deducted Stamp Duty charges @ 0.01% on turnover for Intra-day trading of shares, but ICICI Securities Ltd. has deducted @0.002% on same instrument. KARVY explained - it is applicable as per norms of West Bengal Stamp Duty Charges. ICICI Securities explained – rate (0.002%) is applied as per rules of SEBI/NSE. Now, my question is, who is correct and what should be the correct rate? Definitely we should not pay more (as charged by KARVY @0.01% on turn over) when there is provision for lower rate (as charged by ICICI Securities Ltd.@0.002% on turn over). In this regard I have attached a .pdf, which has sent by KARVY to me, and referred page no 21 and 22 to justify the rate of stamp duty charge applied by them.So I would request to see kindly the said pages wethear this is applicable or not. Here, it is to be mentioned that both broker is registered under NSE/SEBI, and both are in West Bengal, then how the rate for a same instrument could differ from one to other. May I request you to kindly help me by providing the correct information on the issue mentioned above. MY QUERY IS RELATED WITH RATE OF STAMP DUTY CHARGE ON EQUITY INTRA-DAY , NOT FOR EQUITY DELIVERY TRADING(Charge for Delivery is @0.01%). Regards. DILIP KUMAR MONDAL P-370/2,BRAJANATHCHAK, HALDIA, MEDINIPUR(E). WEST BENGAL. Mob.No.9434507240 Land No. 03224 264172 Mail. email@example.com *** I have some other documents, i.e. Contract Note of my tradings from both the brokers, W.B. Stamp Duty act, replies from both brokers pertaining to my queries on the issue, but these all could not be attached at a time. However, these could be sent if I asked to do so.
Dilip Kumar Mondal
(Querist) 14 April 2012
Respected Prabhakar Singh jee, Sir, Thanks a lot for your kind reply on my query. I could not understand who is correct, whether it is KARVY BROKER or ICICI Securities? With Regards D.K.Mondal