Team-BHP - Do you play the stock market

Quote:

Originally Posted by carboy (Post 2272388)

I-Secure if 0.55% per buy/sell. You have the right plan.

With the various brokerage houses available for the consumers to choose the brokerage you can ask for is

a. for intraday trades - .01 for intraday
b. for delivery trades - .15
c. for options - 20 rupees per lot ( you pay only for one side eg only for buying if you square up the same day and for both sides if you carry forward)

As per the above ICICI direct rates seem just too much!

Quote:

Originally Posted by rajinibm (Post 2272411)

I buy a stock & usually sell it after years. My short term sales are usually 6-8 months. Whether I pay 0.50% or 0.25% doesn't make a significant difference to me. ICICIDirect has been very reliable with no issues in 4 years - I am not going to change to save a couple of bucks here & there.

Quote:

Originally Posted by ghodlur (Post 2271704)

However their AMC is around 400/-

Account maintenance charges are for maintaining the demat account; the rates are fixed by the depositories / SEBI (cannot recall who).

Quote:

Originally Posted by JMaruru (Post 2271707)

Does sharekhan brokerage include taxes as it is with ICICIDirect?

Brokerages never include taxes; if at all they do, please ask for rates excluding taxes. Taxes can vary from time to time. And as already pointed out, you canoot do anything about taxes.

Quote:

Originally Posted by SDP (Post 2271758)

On the brokerage front, for cash based delivery transactions, something like 0.25% is a good brokerage, 0.50% is somewhat average and 1% is daylight robbery

+1 To that.

Further, some brokerages levy a "minimum brokerage". For example, my broker levies a minimum brokerage of Rs. 20 per scrip per day. Means, I need to do a business of minimum Rs. 6K per scrip on a given day; means 3K buy and 3 K sell is quite ok. Or a 6 K delivery / BTST transaction too will do.

Some brokers levy a 3 digit minimum brokerage per month, and I think this is independent of the scrip.

Rule of thumb - when looking at brokerage fees below .5%, look out for "minimum brokerage" fees.

Quote:

Originally Posted by carboy (Post 2272477)

Quite true. Reliability, experience, and personal relationship counts. But somebody I know changed from ICICIdirect to ShareKhan. She ran up a broekrage bill of 35K in a year on a portfolio of less than 40Lakh; and says that the same transactions, if were done through Share Khan would have resultedin a brokerage fee in mere 4 digits.

My account is however with neither - I trade with GBNPP.

Quote:

Originally Posted by carboy (Post 2272388)

I-Secure if 0.55% per buy/sell. You have the right plan.

yeah! but the plan change will happen only at end of quarter. My dad had icicidirect account. i came to know about this chori by ICICI only after checking the reports accidentally. Default plan they set is .75%. why they assume that every one does transaction of over crore from their account! like Jmaroor said, it comes close to 1% if done through .75% plan. AFAIK, ICICI charges .75% throughout quarter and only at the end of quarter they pay back extra brokerage. pathetic!

when i applied to change to iSecure it took 3 months! also in between some one from Bombay used to call and say "sir we are calling from ICICI. we offer you portfolio management services. We see some underperformed stock in your portfolio. why dont you buy reliance instead" :D

also there was another call asking if i am happy with icici "i told your brokerage plans are pathetic, i am switching to sharekhan"

OT: my dad has some shares in icicidirect demat. He wants to transfer them to my sharekhan account. i checked with sharekhan and they said that it has to be done at icici bank. any one has done similar thing? what are the charges?

i was just thinking if it is wise to sell shares at ICICI and transfer that money to sharekhan and buy same share again in sharekhan if transfer charges are high.

shenoymaam, ICICIdirect ought to have given your dad a book titled "delivery instruction slip" or DIS. When I was given the DIS by my broker, I was told to take good care of it; since it has the value of a cheque. Dunno if it is true. If you have not got it, get it from the broker. For each company's shares in your dad's a/c, issue one DIS each (you need to check up on this probably, multiple shares could be listed in the DIS.).

Since this is an off market transaction, you will need to show reason why the transaction is done off market in the DIS itself. (simple, one or two word description will do.

The transferee (you) a/c details - number of the ShareKnan DP, and your a/c no. with sharekhan have to be very accurate.

The rates for physical form DIS ought to there in the broker's rates given to you. So, please check the rate at their web site. It would be between 15 to 60 or so per share, IIRC. (From my own research on broker charges 3 to 12 months back).

There may be gift tax / capital gains tax labilities involved - check if the value is high. Also, check what is the tax treatment of the shares when you sell them.

Quote:

Originally Posted by BaCkSeAtDrIVeR (Post 2278038)

thanks sir for very well explained post :) those shares (to be specific one company share) are lying in my dads account for long term.so no capital gain tax. yeah need to check about gift tax. heard that its not applicable because its within the family. Any one, any idea about gift tax on father giving shares to son :D

Don't sell them if you intend to buy them again since you can get them transferred to your sharekhan a/c for much less than what you would pay as brokerage.

Your demat A/c would be linked to your ICICI bank account.You can access your bank A/c online & put an e-instruction for off-market transaction mentioning your demat a/c details of sharekhan.

As BSD mentioned ,you need to mention the reason for transfer which is "Gift" in this case since there is no consideration involved.

Here is the link for charges that would be applicable in this case ICICI Bank.com: | Personal Banking | Demat | Service charges

@ BSD,

There would not be any gift tax in this case (father gifting son).Also, if the shares have been held for at least 12 months then there is no long term capital gains tax on them.

Upon research I've found both entities to be different. But I am yet to find even one line of info on Khaitan Agro Industries. Their Regitrars Ankit Consultancy sent me the following message.

Dear Sir,

In this regard we have to inform you that we are not register and share transfer agents on above mantioned company. So please contact this company.

Thanks

Ms Chouhan

Ankit Consultancy Pvt. Ltd.
Registrar & Share Transfer Agent.