Subasu,

I have addressed this same question to few boarders here, but would like your perspective as well.

When i trade thru ICICIDIRECT at the end of the day there is one single credit or debit to my account as the case may be as reflected in my contract note. This debit or credit includes brokerage, my profit/loss, stamp duty, ST, and STT...

Now could u tell me does this debit to my account goes directly to the broker or NSE, if NSE, does NSE pay the brokerage to the broker, where does the ST, STT and stamp duty go to whose account. And if broker gets the whole brokerage or NSE/BSE retain a part of it? How much will the broker be taxed on every Rs 100 earned as brokerage for a taxable slab.

Next while filing returns is it not enough to just check for NSE/BSE entries in our bank accounts for the amount matching the contract note. These entries are under two columns that is WITHDRAWAL and DEPOSITS.. so just subtracting the withdrawal from deposits should tell us the income earned for a year if we have not retained even one stock for more than a year. Am i right?Would that not suffice for tax returns from next year? Or we should get into every trade? Of course income tax authorities dont ask for documents but for our own rough calculation this should suffice isnt it? Of course later u get a statement for ST, STT, brokerage individually and deduct from taxable profits.. am i right or add it to losses carried over as the case may be?

Thanks!...

Jadish Gaba,

Why cant they ban phone banking? Its a terrible service to have... or they should straight away give options for querying... with icici phone banking its a nightmarish experience if you want a personal query to be attended to.

One more doubt if a broker is found defaulting is there any regulatory body whom we can take our greivance to.... the bank will wash off of its hands but whom can we take the grievance to.

One more doubt is the entire brokerage reflected in our contract note goes to broker? If yes how much tax a broker pays on his income from brokerage? Supposing i pay Rs 200 brokerage today to ICICIDIRECT how much ICIIDIRECT in turn has to pay as tax on every Rs 100 brokerage it earns? But there is only a single debit or credit to our account on a given trading day, so does the amount first go to broker and he pays NSE BSE or does it go first to NSE/BSE and it pays the broker? Could u understand my doubt?...

Eshers,

Me too want to trade dow... for traders Indian stockmarkets is a bad option coz technicals are not followed perfectly here... see ystday i said dow whatever lows it will rally coz TRIN was overbought and from a fall of 130 points it rallied up 32 points.. so in all a rally of 160 points.. the TRIN said it all and dow played it.. of course it does have its moods but that is rare like daybefore when dow dint show such weakness technically it fell, but these moods are few and far between.. i seriously have to switch to us markets if i am going to be a trader... this market does not follow TA even 60% of the times....

PSS,

I am having a big big doubt, could u answer it... generally at the end of the trading day a contract note tells us how much the broking house should debit or credit ur account for... am i right? Now shouldnt there be an entry matching that in the contract note at the end of the trading day. Say 5050 is the debit to my account as of ystday close as per the contract note per icicidirect...so i should check for a matching entry in my icici bank account for this amount... since its debit it will be reflected in my WITHDRAWALS in my banking account, if it had been a credit it would reflect in the DEPOSIT column right? So why should i go over trades when i can subtract the deposits from my withdrawals to arrive at the profits straight away from my bank account.. is that wrong? Where can i go wrong here since i am feeling lazy to open the contract notes. Thank you....

how old are you vam? You have kids?...

EBA entries in my icici bank account not direct account.. i hate to look at accounts.. i can never do accounting in my life ever i am certain......

micks,

Which trading platform you use and why? Hope its not an intrusion on ur privacy? Last time i thought you were uncomfortable with my question on the site dimension of ur ancestral home.. i am not sure if this is too personal a question... if its you can ignore... ...

Yes radkhikaji, I agree with you that the TRIN was showning to be in oversold zone and also the slow stochs were giving a buy signal and yet we sank. And now the slow stochs is not giving a buy signal and yet we may surge up - lol. Also the thought that this market demands tuition fees so many times from us was a good one. I totally agree with you, these days the stock markets have surely become a gambling den, where players enter and exit quickly for a quick buck without paying any attention to investment strategies. Hence, let us also play along and take dips into the running tide. All the best. lovemeall26...

0603 RN, In the good olden days the shares were available at a cheap price and and all IPOs were offered at FV.So one could earn thro' dividends.But not after 2003.Due to book building process,when the 10 FV shares are offered at 300+ where is the question of dividend yield etc?So forget about DY in Bull market My family lived in T'Nagar (Chennai) for many years and we had three good neighbours.There was an offer for a 5 grounds plot in that area and the price quoted was Rs 15K/ground. My father declined the offer. Neighbour A bought one ground at 15K and sold it after a few years for 20K Neighbour B bought 2 grounds and sold one after many years for 100K and still owns one ground. Neighbour C bought 2 grounds and still owns them. The current going rate for those plots is Rs 2cr/ground! Now tthe question for you..Of the above 4 who would be very happy and who would be very sad?Obviously you would say that neighbour C should be happy and my father should be sad.But in reality My father is sad for obvious reasons Neighbour A is sad for selling the plot too soon Neighbour B is sad for selling the second plot Neighbour C is sad for not buying the other three plots RN, what we get or lose is purely due to OUR DESTINY and we should not dwell in the past.The distance between Teachers day and today is 364(days) and not one This mail has to carry my sister's signature Sarvam Krishnarpanam PS: Kindly take the above story in the spirit it was intended and do not bombard me with questions like what was your father?what was his last drawn salary?Is he getting any pension now?Do you own any other house or plot in Chennai?Have you ever quarreled with your dad for not buying? etc etc...

Hmmmm... My Crude prediction below 100 . BTW i will give THE HISTORY OF MY PREDICTIONS, as far as i can remember... hope u wont get bored with that long msg.....??? LOL But my memory is pretty weak that way, good only in remembering figures/numbers & business - LOL... lemme see if i cud remeber all of the predictions on MMB. :)...

Agreed 60s 70s 80s music was great... But U gotto be a li\\`l open towards the latest music too.... Have U ever heard RAHAT FATEH ALI KHAN , nephew of Ustaad NUSRAT FATEH ALI KHAN.... I think he is a step better than the USTAAD also.... Thats what I told U to hear that song form Singh is Kinng:- *Teri Ore* sung by RAHAT & SHREYA... U shud also listen to his other songs like the one from the movie PAAP starring John Abr ,which even I havent seen, was a big flop, but the song was a HUGE HUGE HIT & still lingers on, in my car audio :) ... it is LAGAN LAAGI TUMSE MANN KI LAGAN.... Listen to both these songs rite now.... & get back with ur reviews ... am sure Ull love it . ...

RN, Am seriously considering of using SGX especially considering it starts early and over-shoots most of the day.. There is a bit of the problem with Margin requirements with SGX and also options are not available i guess.. But am seriously looking to see how i could trade in SGX and also in DOW :-).. I use MOST for trading.. Cheers...

Not generally, but he was one of the lucky two to be selected by samsung software from his college who i understand picked only a couple each from the top colleges in blore and all over india....

Yes, keep buying as the stock is sliding down gradually. One day the God will reward when the stock feels bullish!On 05 Sept it has closed at Rs 193.70 and may go down to Rs 190!...