TaxTMI 
TaxTMI 
FEES PAYABLE BY STOCK BROKERS
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.... in their individual and representative capacities was issued on March 28, 2002. Some further issues involving methodology of computation for purpose of levy of turnover fees on certain type of transactions such as compulsory carry forward transactions, reversal transactions pertaining to institutional trades routed through the custodians as also the methodology for computation of fees for the years for which turnover data is not available with the Exchange etc. which were represented by the Exchanges as well as the brokers in their individual as well as representative capacities were examined by SEBI. The said issues are clarified as under :- For those financial years for which the Exchanges do not have authentic total turnover details, ....
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.... with the Exchange has been furnished. FEE CONTINUITY BENEFIT WHERE THE ERSTWHILE INDIVIDUAL/ PARTNER DIES PRIOR TO COMPLETION OF THREE YEAR PERIOD FROM CONVERSION OF MEMBERSHIP the erstwhile individual/ partner (member partners in case of Exchanges which admit members as partners but do not admit partnership firms as members of the Exchange) was satisfying the conditions laid down in clause 4 of part I of Schedule III above, till his/ her death and the legal heirs of such whole time directors of corporate members satisfy the above conditions till the completion of the remaining period. TRANSFER OF MEMBERSHIP TO 100% SUBSIDIARY, GROUP COMPANY, HOLDING COMPANY, ETC.100% subsidiary company orgroup company or holding company MERGERS/ AMALGA....