From this post, I understand that stamp duty will now be charged at a uniform rate irrespective of your state of residence. I want to know how does this affect people residing in Tamil Nadu?
Here’s the stamp duty rates that were being charged for Tamil Nadu clients before the uniform stamp duty rules went live. A comparison of the old and new rates is below:
| Segment | Old Rate (Both buy and sell side) | New Rate (Only on the buy side) |
|---|---|---|
| EQ Intraday | 0.006% | 0.003% |
| EQ Delivery | 0.006% | 0.015% |
| FUTURES | 0.006% | 0.002% |
| OPTIONS | 0.006% | 0.003% |
| Currencies | 0.006% | 0.0001% |
| Commodites Futures | As below | 0.002% |
| Commodity Options | As below | 0.003% |
| Old Commodities Stamp Duty | |
|---|---|
| Symbol | Rate |
| GOLD / SILVERM | Rs. 0.5 per lot |
| CARDAMOM / GUARSEED | 0.00004% |
| GOLDGUINEA | Rs. 0.004 per lot |
| GOLDM | Rs.0.05 per lot |
| GOLDPETAL / GOLDPTLDEL | Rs. 0.0005 per lot |
| SILVER | Rs. 3 per lot |
| SILVERMIC / SILVER1000 | Rs. 0.1 per lot |
| COTTON / KAPAS | Rs. 0.3 per lot |
| CRUDEOIL / BASE METALS | *No Stamp Duty |
A major distinction between the old regime and the new regime is that the stamp duty is now charged only on one side (buy side) against the previous regime where the stamp was charged both on the buy and sell sides.
You may also notice that effective stamp duty is reduced by over 75% for equity intraday, equity derivatives, and currency derivatives trading. There will be a small increase in stamp duty levied on equity delivery and commodity trades.
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