what is stamp charges in zerotha …in brokerage calculate it is not there…but it charges around 0.01% on my total transaction value for 1 lot eur inr nearly 12 rupees
ple mention this in brokerage calcutor so that people who do paper trading they come to know real profit or lose
Hi Naveen,
Stamp duty I think would be a difficult thing to add in the Zerodha Calculator as each state has different charges.. and all broker's have to charge same stamp duty, This can not be manipulated like the brokerage which is done by most of the traditional brokers... If that was your doubt if Zerodha charged more or less.. ;)
Please find the link of states wise charges for stamp duty..
Hope it helped :)
I suggest you create an excel file and keep it in your desktop
http://zerodha.com/charge-list
The detailed charge list with how much % is charged is given in above link.
Use that detail and create an excel file which includes Stamp Charges for your state in the calculation.
I suggest you look into this excel for knowing how much you are in profit/loss, since it gives precise values.
Although, zerodha calculator is fancy looking, it does not provide the exact charges what we incur in contract note. (stamp duty is missing, and believe it is a substantial amount in the trade charges). This stamp duty is excluded from zerodha calculator because of the existence of state-wise different stamp duty. This is a technical limitation, I believe.
@Nithin
As like I have requested in the past, Is it possible to include stamp duty in the calculator.
Can the brokerage calculator (if state is chosen in the drop down box, or some cookie storing the clients state) show the the following
---- Exact value of profits and loss inclusive of stamp charges
---- Revised breakeven including stamp charge calculation
Eventhough you say you need to discuss with your tech team to check whether this is possible.
I personally think, this is not some humungous task. Your tech team should be able to do it easily, I believe.
If you are saying that this is some business model, then leave it. I will stick to the excel file I created in my desktop.
This is not only my humble request, many of my friends who trade with zerodha also wish this!
Forget about Technical limitation, or business model or anything else. I think in India there are 29 states, just see which state charges the highest Stamp Duty, and put that value in your Brokerage Calculator webpage. Rest assured, atleast we know that we are on the plus side.
@sudesh
Yeah, I have suggested that to Nithin earlier.
He feels its not good to show high stamp charges for people who actually incur lesser stamp charge.
This would misguide them, he says!
Previously before the recent change in stamp duty for TamilNadu etc., stamp duty of max 50 rs was charged if it exceeds 0.006% for that transaction.
This made the brokerage calculator complex, as it is not possible to check whether our single order which is > 8.33 lakhs has gone through in single shot or in multiple purchases.
But now since max cap of stamp duty is based on per day basis, I think it should be possible to include stamp duty in brokerage calc.
Lets hope someone hears this!
If we choose the state in the brokerage calculator, can stamp duty get added and show the real profit/loss. If state is not chosen it can be excluded from calculations with a star saying stamp charges extra.
Is this not possible?