Apart from the commission you pay us for our services, commonly termed as Brokerage, you are usually charged for Tunover charges, STT, Stamp duty and other statutory levies as applicable.
Generally it does not happen but in certain circumstances depending upon the situation Form 10B may not match.
It has been settled now that income from derivative trading will be considered trading income (as if you have earned through delivery based transactions), and not the speculation income.
Clients has to follow various guidelines issued by exchanges and the one which has been mentioned in KYC documents for dealing in shares with a Broker.
The first thing is obviously to discuss the issue with the broker and amicably resolve the issue. If the grievance still persists, you can make a complaint with Exchange's/ DPs. Following links are useful.
Total margin for open positions in the derivative market is the sum of SPAN margin and EXPOSURE margin. Whereas the exposure margin is a constant percentage of closing value of open position (the percentage changes every month), the SPAN margin comes from exchanges directly and varies daily in tandem with the Volatility and other factors in the market.
Intermediaries have been directed by the Exchanges' and SEBI regulations to keep updated with the personal and financial details of their clients. Please inform your broker immediately on change of personal and financial details. Please bear with us if we keep on asking for income proof year after year.
Please visit our download section, and download KYC, it contains all the required information for opening an account with Vardhaman Capital for trading in equities,derivatives, currency etc.
To nominate the account holder(s) must fill nomination form containing their signatures along with the signatures and photographs of the nominee and signatures of two witnesses. In case if the nominee is a minor then the signature and the photograph of guardian will also be required. This form can be submitted to DP at the time of account opening or at the later date even after the account is opened.
The securities are put up for auction by the Exchange on account of non-delivery of securities by the selling trading member to ensure that the buying trading member receives the securities due to him. The non-delivery by the trading member could arise on account of short delivery,. The Exchange purchases the requisite quantity in the Auction Market and gives them to the buying trading member.
We do not send contract Note for auction but instead we provide Vallan Bill to the clients generated by the software. For verifying Auction price Clients can ask for exchange generated reports from the Broker.
Auction Dr is always more than auction credit as sellers do not get the benefit of short sale if the prices go down.
STT paid in respect of business transactions alone is allowable as a rebate under Section 88E against tax payable on such business income. Therefore, the STT paid on purchases or sales resulting in capital gains is not deductible in computing income in any manner whatsoever.
Demat charges payable on the sale can be claimed as expenses in connection with the sale of shares and would, therefore, be deductible in computing the capital gains.
It may also be possible to claim dematerialisation charges when the dematerialisation of the physical scrips is carried out with a view to sell the shares. (subject to change as per IT Act)
There are three forms of Margin.
1: VAR Margin - The VaR Margin is a margin intended to cover the largest loss that can be encountered on 99% of the days( 99% value at risk)
2:Mark to Market Margin - MTM is computed after the trading hours on T day on the basis of closing price of that day. In case the security has not been traded on that day, the latest available closing price is considered as the closing price.
3:Extreme loss Margin - It covers the expected loss in situations that go beyond those envisaged in the 99% value at risk estimates used in the VaR Margin.
4:Special Margin - If imposed on scrip is collected along with MTM from the Trading Member, first by adjusting the same from the available cash & cash equivalent & the balance in form of cash from the trading member through their designated clearing bank on the same day.
Yes. PAN Card has been made mandatory for opening trading / dp accounts.
You have all the legal rights over such dividends and will be given by the Broker to you on receipt of the same. This may be through direct credit to your account maintained with the Broker or he may choose to give separate cheques to you.
For the great volume of transactions, it may not be possible for the Broker to keep track of every right share option available or inform you the same. It's the onus of the client to pre-inform the broker if he intends to make any such right share application through payment of money to the broker. The broker shall make necessary reservations then.
Clients can send in their grievances to: firstname.lastname@example.org