Trading Costs (India)

Costs are the one part of a trade you know in advance. Compute them exactly, because they decide whether small-edge strategies (scalping, frequent option trades) are viable at all.

Calculator

python3 scripts/charges.py --segment delivery --buy 1800 --sell 1900 --qty 100 --broker zerodha
python3 scripts/charges.py --segment intraday --buy 2450 --sell 2465 --qty 200 --broker all     # compare brokers
python3 scripts/charges.py --segment options  --buy 120 --sell 150 --qty 130 --broker groww     # 2 NIFTY lots
python3 scripts/charges.py --segment futures  --buy 25000 --sell 25100 --qty 65 --exchange NSE
python3 scripts/charges.py --segment mtf --buy 500 --sell 540 --qty 400 --broker zerodha --mtf-days 20 --mtf-funded 100000
python3 scripts/charges.py ... --brokerage-pct 0.05 --brokerage-cap 20      # any other broker
python3 scripts/charges.py ... --json                                       # machine-readable

Options prices are premiums per unit, and --qty is in units (lots × lot size). Pass only --buy or only --sell to price one leg. The report shows the breakeven sell price (long) and buy-back price (short).

Statutory charges (identical at every broker; verified 31 Oct 2026)

Charge	Delivery	Intraday	Futures	Options
STT	0.1% buy and sell	0.025% sell	0.05% sell (was 0.02% before 1 Apr 2026)	0.15% of premium, sell (was 0.1%). Exercised ITM: 0.15% of intrinsic value
NSE transaction	0.00307%	0.00307%	0.00183%	0.03553% of premium
BSE transaction	0.00375% (A/B group)	0.00375%	0	0.0325% of premium
SEBI fee	₹10 / crore	₹10 / crore	₹10 / crore	₹10 / crore
Stamp duty (buy side)	0.015%	0.003%	0.002%	0.003%
GST	18% on brokerage + transaction + SEBI fee (+ DP charge)	←	←	←
DP charge	per scrip per sell day (broker-specific, ~₹13–20 + GST)	—	—	—

NSE also levies an IPFT (investor protection fund) charge of ₹0.01 per crore, which is negligible. Contract notes round STT and stamp duty to the nearest rupee.

Brokerage (per executed order, verified from official pricing pages, Oct 2026)

Broker	Delivery	Intraday	Futures	Options	DP (pre-GST)	MTF interest
Zerodha	₹0	0.03% or ₹20 (lower)	0.03% or ₹20	₹20 flat	₹13	0.04%/day
Groww	0.1% or ₹20 (lower), min ₹5	same	₹20 flat	₹20 flat	₹20	14.95% p.a.
Angel One	0.1% or ₹20, min ₹5	same	₹20 flat	₹20 flat	₹20	0.041%/day
Upstox	₹20 flat	0.1% or ₹20	0.05% or ₹20	₹20 flat	₹20	₹20/day per ₹40k
Dhan	₹0	0.03% or ₹20	₹20 flat	₹20 flat	₹12.5	12.49–15.49% p.a. (tiered)

Brokerage in the cash segment can never exceed 2.5% of trade value (exchange cap). Introductory offers, plans such as Upstox Plus, and NRI pricing differ. Verify on the broker's page and pass overrides when needed.

What the numbers mean (rules of thumb)

• Delivery round trip ≈ 0.22–0.25% of value before slippage, mostly STT on both sides. A swing trade aiming for 1% gives up about a quarter of it to costs.
• Intraday equity ≈ 0.03% in statutory charges plus brokerage. Percentage-capped brokerage (0.03% at Zerodha/Dhan, 0.1% at Groww/Angel One) scales down for small orders. Flat ₹20 brokerage does not: ₹40 round trip on a ₹10,000 trade is 0.4%.
• Options: the sell-side STT (0.15% of premium) and exchange charges (0.0355% of premium) are small per trade, but ₹40 brokerage per round trip on a ₹2,000 premium position is 2%. Frequent small option trades bleed.
• Futures: after the 2026 STT hike, sell-side STT alone is about ₹750 per NIFTY lot (0.05% of ~₹15 lakh notional at NIFTY ≈ 23,000). A long round trip breaks even only after about 14 index points, so scalping for 5–10 points loses money.
• DP charge is per scrip per day of selling, regardless of quantity. Selling 1 share costs the same DP fee as selling 1,000, so avoid tiny partial exits from delivery holdings.
• MTF interest of 0.04%/day is about 15% a year. A 30-day MTF hold must beat ~1.2% in interest alone.
• Hidden costs: bid-ask spread and impact cost (large in small caps and far OTM options), auto square-off fees (often ₹50 + GST), call-and-trade fees, pledge/unpledge fees, demat AMC, and payment gateway charges.

Tax interaction

• STT is not deductible from capital gains (listed equity). Brokerage, exchange fees, stamp duty and GST are deductible as transfer costs.
• For F&O and intraday (business income), all charges including STT are deductible expenses. See indian-tax-for-traders.

Output

Charges for [trade]: ₹X total (Y% of turnover, Z% of gross P&L)
  Brokerage ₹.. | STT ₹.. | Exchange ₹.. | Stamp ₹.. | GST ₹.. | DP ₹..
Net P&L: ₹N | Breakeven: ₹B (+P pts)
Cheapest broker for this trade: … (statutory charges are the same everywhere)