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One Stamp Duty | Unified Stamp Duty Effective 01st April 2020

One Stamp Duty | Unified Stamp Duty Effective 01st April 2020 What is Stamp Duty? It is a direct tax collected by State Governments under Section 3 of the Indian Stamp Act, 1899. It is levied on documents with financial transactions, it includes property transactions, bills of exchange, promissory notes, letters of credit etc. A Stamp Duty paid document is considered a legal document which can be presented as evidence in court of law.    What is Unified Stamp Duty / One Stamp Duty? The Finance Bill, 2019, contain certain amendments in the Indian Stamp Act, 1899 (the Act) brings uniformity in the levy of stamp duty on securities market. Till 31st March 2020, stamp duty will be charged at different rates based on your State of residence. But, with effect from 01st April 2020, stamp duty will be charged uniformly irrespective of the State of residence. The collection of Stamp Duty is also revised, Till 31st March 2020, we (Brokers) will collect it from you and pay it directly to the respective State Governments but effective 01st April 2020, we (Brokers)...

Spread Order

Spread Order What is a Spread Order? A spread order is an advanced order that has multiple legs/orders within a single order. There are 2 types of spread orders SP order 2L, 3L and 4L orders   SP Orders SP orders are used primarily for two reasons Trade Calendar Spreads Roll-over existing positions Let’s understand them better.   Calendar Spreads At its core, a calendar spread order performs two actions simultaneously Going long (buying) on one scrip/contract Going short (selling) on another script/contract, and vice versa Here, the desired scrip/contract is of the same underlying. Let us explain further... Scrips of the same underlying with different expiry dates are available at different prices. This price difference is known as the Spread. Traders initiate a calendar spread order with the intention of profiting on the movement of this Spread. Say Nifty Sept is trading at Rs.9800 and Nifty Oct is trading at Rs.9900, the price difference between these contracts, ie Rs.100 is known as the spread. And this is indicated as a...