One good friend of mine obtained an electronic mail saying his AMC is due and the quantity is 75 + GST nevertheless his holdings are one thing like thisEquities ~ 12kListed Corp Bonds ~10kMFs ~90kDoesn’t this nonetheless qualify for BSDA as per SEBI guidelines?Edit: He has no different demat account and Zerodha CMR exhibits BSDA Flag Sure fairly complicated.@nithin @Meher_Smaran @ShubhS9
Edit: He has no different demat account and Zerodha CMR exhibits BSDA Flag Sure
fairly complicated.
If he has no different Demat, it needs to be. @TheGouda are you able to verify.
not too long ago my father open Buying and selling and demat account. Zerodha CMR exhibits BSDA flag No.
He doesn’t have another demat account.
I imagine the issue to streamline AMC arises as a result of 1 / 4 is calculated from the day of account opening, and subsequently the AMC charging interval would differ from individual to individual.
Since curiosity fees apply for debit stability (i.e. when ample funds aren’t accessible in buying and selling account), for somebody who will not be lively, it’s potential that the fund stability might be NIL on the day the AMC is charged. That is very a lot potential, when the AMC is charged after the quarterly settlement date.
On random days i get an electronic mail for paying AMC of some totally different quarter and generally even after weeks or days these fees gained’t get debited from buying and selling account stability. So i counsel you both cost it on an annual foundation or streamline it to be on specific date or day of 1 / 4 (like curiosity accrued on financial savings account can be paid on specific date).
We’re engaged on fixing for this – we’ll share an replace on this. @TheGouda @mohitmehra ++
Sure identical. Obtained an electronic mail in July however not debited but
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Can simply remedy this purchase charging professional rata for first quarter
Yeah.
If they will pro-rate it , then the fees will be made following a fiscal quarter for everybody, and AMC date will be fastened on the finish of every quarter.
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Hello Chetan, earlier than debiting an AMC we ship an electronic mail which mentions for what interval the AMC is being levied (consult with pattern electronic mail screenshot). It’s potential that an account was non-BSDA throughout that interval and never anymore. In the event you can DM the consumer ID, we’ll verify and make clear.
not too long ago my father open Buying and selling and demat account. Zerodha CMR exhibits BSDA flag No.
He doesn’t have another demat account.
We don’t compute/calculate BSDA. CDSL provides us the BSDA flag, so it’s potential an outdated inactive demat with one other DP or holdings worth demat is past the BSDA restrict.
Apologies. This occurred not too long ago as a consequence of a bug, and a few shoppers obtained an electronic mail prematurely. We’ve fastened it.
@tallerballer @SG_13 sure, we’re exploring some steps to make it simpler for customers. Additionally, we’ll quickly give the choice to pay upfront for a yr, so one needn’t fear about quarterly deductions.
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I additionally received that AMC electronic mail saying the identical factor.
I did DM you @TheGouda please do verify it
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CDSL provides us the BSDA flag, so it’s potential an outdated inactive demat with one other DP or holdings worth demat is past the BSDA restrict
That is the primary time my father has opened buying and selling and demat account. How can I appropriate it ?
That is the primary time my father has opened buying and selling and demat account. How can I appropriate it ?
You’ll be able to DM the consumer id, we’ll verify and make clear.
Why you not utterly waive off this AMC…most of brokers not charging it since very long time now
Does AMC relevant solely holding MF ? @TheGouda
