Posted on Sunday, December 11, 2016
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Most brokers in India charges the minimum brokerage fee. You could read this article for more detail about minimum brokerage:
To understand how the minimum brokerage is calculated, let's take an actual contract note issued by Angel Broking, a popular traditional stock broker with highest number of branches in India.
At Angel Broking, the brokerage is charged on % basis of transaction value as agreed with customer at the time of account opening. However, where the rate of share or futures contract is below specified rate where specified rate is calculated as A / B (as explained in example below), then Minimum Brokerage in paise is charged on Quantity instead of % rate.
Example: Lets says that the brokerage agreed with customer is 0.25% with 5 paise as minimum brokerage then specified rate would be (5 / 0.25) which is Rs. 20. Hence 5 paise would be levied as brokerage on per share basis where share price is less than Rs. 20.
Also note that the brokerage charged to the customer is higher of brokerage value as per the existing rates or Rs 30 per settlement/segment, subject to the maximum rates (2.5%) prescribed by SEBI.
Most traditional brokers also have 'Per Contract Note Minimum Brokerage' charges. Note that customer is issued one contract note per day for all transactions in a segment.
Angel broking Per Contract Note Minimum Brokerage Charges: Rs 30 or 2.5% whichever is lower.
The above 4 transaction generate total brokerage of Rs 0.3645 (0.132 + 0.1325 + 0.05 + 0.05). This is lower than Rs 30 minimum brokerage for this contract note.
Minimum Brokerage for this contract note: (263.95 + 265.00 + 2.75 + 2.72) * 2.5% = Rs 13.3605
As Rs 0.3645 is already charged along with the first 4 transactions; Angel added an additional charge of Rs 12.996 (13.3605 - 0.3645).
Customer pays following taxes on this transition:
After taxes customer booked the loss of Rs 14.37.
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