Selecting a broker

i am correcting my earlier statements.
i checked on the web. looks no income tax liability for buy backs for Resident Indians

TCS buy back FAQ - Q28 says the same.

Since Introduction of Finance Act 2013 Amendment, Government has made tax incidence at company’s end for buyback and no capital gain for investor. PFA the links for same

@Nikhil.A Request if you can confirm if my understanding is correct

What brokerage accounts are reliable and trustworthy to invest in US stocks🤔

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https://www.mstock.com/

Mirae Asset have ventured into brokerage business with One Time Fee of rs. 999.

Although their website seems rather misleading and total charges when one opens account comes to ~Rs.2400, their pricing is great deal for investors/traders. No delivery/Intraday charges suite both kind of customers and along with their brand name, it’ll be interesting to see how much market share they will be able to gain in an already overcrowded space.

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Can someone shed more details on Mirae broking. I have been a huge fan of this group. Really would like to understand their entry and usp they are bringing to their broking business.

Hi All,

Please let me know if you are using PROStock as broker…I am planning to shift from Zerodha to Prostock…for NRI…please advise

Is anyone using or has used Finvasia? Platform seems nice and most importantly it’s a zero commission broker. I am thinking of trying them.

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I have been using them for about 18 months. No problems so far. You can transfer funds through RTGS with instant credit. Transfer out of funds requested before 3pm is credited to bank same day. Take this feedback with the input that I don’t use Futures Options. I don’t use margins or Intra Day. Only delivery based transactions.

Are you using finvaisa for NRI services or Resident account…Please advise

I am using Resident Account

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Finvasia is good, I am using their Shoonya web platform.
Since I am a micro / nano cap investor too onle of criteria is most brokers dont allow them but finvasia does.

Another positive feedback is they also have GTT feature, also orders go on exchange pretty quickly in morning at sharp 9.00.01 which is one feature I like as well.

They have lowest CDSL charges as told (not verified).

Sometimes I have seen their login freezes near 9am but I login early so does not affect me.

Overall I am happy. (Only doing delivery based transactions).

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How can we make sure all our stocks that we purchased safe…no sell…or no mischief happend like Karvy

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I use a demat account where there is no POA, that means broker cannot sell at all, but this has its drawbacks, for example I have to use physical slip for transfer shares (it takes one day and can sell only next day), if it is CDSL and broker allows easiest then it could be easy, but I am yet to come across a broker who opens standalone demat and allows easiest. If you find one please let know.

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Finvasia allows easiest. No PoA necessary for trading account also. Selling through their trading account possible with CDSL PIN.

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Guys! please check this. How safe is our Account with Brokers. How can we safegard ourselfs from such hacking/fraud.

I am even more concerned that my wife opened demat account with Zerodha recently :worried:

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There are a few things that we can do from our side, and there a few things that we cannot do anything about.

I use Zerodha, so I can tell about that. AFAIK, we cannot change the password for an account without getting an email or an SMS from Zerodha. And if we want to change the email or the mobile number, we need OTP which is sent to the email or to the mobile. In other words, if nobody has access to our email and mobile, they will not get the OTP or any link, which is required to make any changes.

And I think there is a possibility of doing all of this without us getting any notice, but to do that insiders should help, and we don’t have any control over this, except trust the broker, or take action if this happens.

You can also use 2FA, 2 factor authentication everyday, TOTP for login, and TPIN for selling. For TOTP, I think, if you are on a computer, you don’t need a mobile number, you can use TOTP software directly.

And if these are serious investments for you, then you can consider having accounts with different brokers, not that what happened with Zerodha will not happen with other brokers, but this puts a limit if such a thing happens.

Also, the program failed to explain the process of hacking in a step by step process, they did not present the story from the hackers’ side, how could they do what they did, so that everyone understands it easily. To hack in this day and age is not that simple, a lot of things gets logged, and the program failed in explaining this, they made hacking sound so simple, it is not, unless they have inside help, instead the program talked about things that takes months if not years to get implemented.

What you can do is, when you login

  1. Always check if the email ID that gets displayed under the client ID on the top right corner is yours or not.

  2. You can check everyday before market opens, if there is any notification mail from Zerodha, about login from a new location, if there is an email and if that login is not from you, then change the password, email, mobile number quickly, you can also contact the customer care and see if you can block your account, if you are absolutely sure that something is wrong.

Also, you can use a basic phone with no internet connection for investments, so that there wont be any app-related problems.

Finally, consider the possibility of such a thing to happen in spite of our efforts, because technology is a double edged sword, it makes life easy but comes with its own problems.

Editing with some more info.

There is a way of changing email and mobile but for that to happen online, the changes have to be submitted with Aadhaar eSign, and an OTP will be sent to the email and mobile associated with Aadhaar, and if it is offline application, it has to be filled, signed and posted. If Aadhaar systems are hacked, it will be a national issue and if the form is sent offline, they will match the signatures I guess.

Also, check every friday, if the email, mobile number and the bank account are yours or not.

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I do not know whether I’m posting my query under the correct topic, so moderator may please delete if inappropriate. I have been usin inig the Sharekhan website for my trading activities since a few years & am quite happy with it. Recently, I opened an account with Zerodha & started trading on their KITE app since a

few days. I am quite disappointed with it. Whereas Sharekhan is very exhaustive & user friendly, I find KITE quite cumbersome & confusing. Please share your views whether anyone else feels the same & how to address it. Thank you.

You have to be specific.

Better yet, there is a forum for Zerodha users, where you can ask your questions and their staff will provide answers. Register there and then ask whatever questions you have.

I’ve used the kite app by Zerodha in the past and I found it really user friendly. However, I’ve now shifted to finvasia for more than a year because of the charges. But I have no complaints regarding the platform.

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