In Easiest, we need to give reason for trade. I am selecting “Redemption of Mutual Fund Units” as reason. For this consideration amount is not required - is this the correct category ?
Do I need to pay stamp duty if I am selling the fractional units to the mutual fund agency ? In normal redemption of Liquidbees via exchange , we do not pay right and it is anyway a mutual fund unit - So stamp duty is only collected during ‘Buy’ transaction
@siva@nithin@ShubhS9 : Can you please help me by letting me know the reason for trade entry in CDSL Easitest for Liquibees fractional units - Will it be “Redemption of Mutual Fund units” where no consideration amount is required … Would be great if you can please update the documentation with respect to CDSL Easiest as everyone now have access to it
Thanks for the reply. The problem with entering the consideration amount is I need to select the payment details. I am not paid yet , I will paid after a week or so by Nippon mutual fund !
When I select this reason “Redemption of Mutual Fund Units” , consideration amount is not mandatory - So I can go ahead without payment details. So sort of confused on what todo If I enter consideration amount, what can I mention in payment details ?
Can you please also confirm that we do not need to pay any stamp duty unlike normal Off Market Sell/Purchase . Zerodha has this below info at end but I guess this is not applicable for Liqudbees as it is mutual fund unit + you are redeeming with agency itself and not selling it to someone.
You (transferor of the shares) will also have to pay stamp duty at 0.015% on the consideration amount to CDSL on their platform. Learn more.
@mohitmehra I am also trying to get rid of the fraction units of liquidbees from my holding. Ticket #20210113268337.
@Bhuvan knows about it and as per his guidance, I changed my address in Aadhaar and did Re-KYC of my Demat to get DIS booklet at my current address. Awaiting the DIS booklet. Meanwhile, I read this thread and remembered I had registered for CDSL Easiest long back. So I logged in to my account. But I can’t see the “setup” menu option as per the steps mentioned in your link. What am I missing?
If there is an online method to sell fractional liquidbees, it would be of great help. It would save me from paperwork and save time taken in dispatch and courier.
Anyways, you can select trusted accounts(PIN) option , give one of any trusted DP account you have
If you do not have any other CDSL account , you can just give the Nippon Liquid Bees DP account 1301240005856404 as you anyway need to add their account before selling.
More Info :
It wont take away the POA as far as I know. No demerits I think . But up to your risk
If I enter consideration amount, what can I mention in payment details ?
