Is there any charge for the conversion of scrips from NRML to MIS and vice versa?
If a scrip is bought today for NRMS, can it be sold in the following day without any charges or penalty?
For trading, does the tax or any charges depend on the annual or daily turnover?
none, just need to have the required margin for nrml. Tax depend on annual turnover estimate and actual reading.
“Tax depend on annual turnover estimate and actual reading.” Can u provide me more details on this or if there is any weblink can be pointed for more details that will be helpful.
There are no charges for converting your position from MIS to NRML, you just need to have sufficient margin to convert your position.
Yes, you can Buy today and Sell tomorrow, there are no penalties, brokerage and other charges will apply.
Brokerage and other charges are calculated based on the turnover of the specific trade. You can use Brokerage Calculator to get an idea about charges.
Regarding the brokarage calculator, if I have understood correctly, the brokerage and fees will increase with turnover, which is obvious, but the rate of charges is fixed and there is no additional charges. Could u please clarify.
Secondly, what about the tax, is there any change on tax or restrictions with/on the turnover?
The rate at which charges are levied is fixed, you can check this here.
There is no restriction on turnover. Regarding taxation on F&O trading, you can refer to this post by @Quicko.
If you have further queries on Taxation you can ask them on Taxation topic, Quicko or other community members will help you.