IS this correct

dhanushkapg · 1 IS this correct Tue Sep 06, 2011 10:10 am

dhanushkapg

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Dear All , Please help me, I sold 100 shares of some company in 3.10. But today Transfer only 293.59 to my Account...Why is this.
According to My Calculation it should be = 3.10*100
310*98.8/100= 306....

Please help me and bcus i am new to market

charith82 · 2 Re: IS this correct Tue Sep 06, 2011 10:19 am

charith82

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This is because taxes. following link explain the taxes which will include to ur transaction.

http://cse.lk/welcome.htm

dhanushkapg · 3 Re: IS this correct Tue Sep 06, 2011 10:22 am

dhanushkapg

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But i will only 1.12 isnt

ninja · 4 Re: IS this correct Tue Sep 06, 2011 10:30 am

ninja

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As per the What If Calculator in TWS, this is correct (293.59). This could be due to minimum tax amounts imposed by the SEC for some of the tax amounts for a transaction has been applied on your transaction..

charith82 · 5 Re: IS this correct Tue Sep 06, 2011 10:37 am

charith82

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yes for some taxes if the transaction not meet the minimum amount it will charge Rs. 5 rather than the %. so for small transactions it will greater than 1.12 %

kav4 · 6 Re: IS this correct Tue Sep 06, 2011 10:42 am

kav4

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Sold 3.10 * 100 = 310/-
Less
SEC (0.072%) = 0.22
CSE (0.084%) = 0.26
CDS (0.024% - min 5.00) = 5.00
Brokage (0.64% - min 10.00) = 10.00
STL (0.3%) = 0.93

So the total to you = 310 - (0.22+0.26+5+10+0.93) = 293.59

You have paid 16.41 as tax & charges. That's 5.3% of the sale velue

Don't buy or sell share in such small quantities when the price of a share is low.

Hiru · 7 Re: IS this correct Tue Sep 06, 2011 10:52 am

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There was a another post here explaining what is the minimum value of a transaction to be eligible for percentages.

you can refer to that, however following will give you a short hand method.

Minimum CDS fee=Rs5
CDS percentage = 0.024%

At the break even point, both should be the same.

Therefore, 5/0.024%=20833.33

So, roughly remember to transact in values above Rs 21,000/-