Criminal Trident Pack: IPC, CrPC and IEA by Sr. Adv. G.S Shukla and Adv. Raghav Arora
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Rate of stamp duty on intra-day equity trading.

(Querist) 12 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 relevant paper available with me. 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. mondaldk2@gmail.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.
Nadeem Qureshi (Expert) 12 April 2012
Dear Dilip
You can easily bear a lawyer fee, contact a lawyer in your area and consult with him/her
ajay sethi (Expert) 12 April 2012
The Stamp duty on total turnover for a day which is 0.002%.


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