I have sold 2 Shares of Network 18 @ Rs.37.85 = Total Rs.75.70 ...on which Brokerage @ 0.0568 per share ( @ 0.15% ) was difference brokerage + Service Tax ). Can they maximum Brokerage allowed by SEBI = 2.5 % ) Further if they are Minimum Rs.16 /- on a sale of Rs.100 /- ) ....but they are not using the word "Brokerage" ...but instead using some other words ....like "delivery handling charges" .....is it permissible
They are charging the additional Brokerage in the Ledger ...and not on Contract Note ....so that they would be seen as complying with SEBI Rules .
So basically I want to go behind the Rationale ....of why has SEBI given the restriction of 2.5 % ....and what does the word "Brokerage" include . Is it the total charges for Trading that can be collected from the investor ....or is it that the word "Brokerage" should not be used for charges of more than 2.5 % .....after that the Broker is free to charge any amount from the investor ...by using some other word .....like " extra Charges "
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