The comparison between the calculations in contract note and brokerage calculator doesn’t match. The contract note has clumsy information leading to confusions. The point #1 and #2 under notes conveys that Dhan is collecting brokerage twice.
Also, the default brokerage listed in brokerage calculator is Rs. 20. So, for women account holders it becomes useless as the data it gives is incorrect. Please add a checkbox to opt for Rs. 10 brokerage.
Please do the needful to correct the contract note and brokerage calculator.
Contract note format is as per the regulations which is standard industry wise, brokers can’t change much to it. Exchanges define what goes in the contract format, have attached the format below for your reference.
We will be happy to show the same as a brokerage calculator, if the format changes by regulators.
your charges at the end does not make any sense. you’re adding brokerages in script section. where as it should be a part of “Taxable value of supply” I don’t know who advised Dhan to show brokerage in script section, Looking at your contract note no one will get clear picture of his P/L at the end. and I don’t understand why the rules are different for Dhan only rest all other brokers have different contract note and show things in much understandable way. but yours is messed up. request you please change it and show things in a better way where a layman can understand the things and should note scratch his head around. and to clarify your statement- other brokers are also following the same template but the manner of showing things is much better where charges are at prefect place. they also follow the same guideline as you. Requesting you to please change that and show charges like other brokers do.
I think the best approach would be match with the entries in your brokerage calculator. Now, it is very difficult match the entries in contract note and the brokerage calculator. Why can’t you make them same?
We know that’s been prescribed by the regulators but can you please check other brokers contract note once and check if it’s you who is differentiating himself by showing things at wrong place. or other brokers are breaking rules. every broker in our country show brokerage in “Taxable value of supply” but you’re showing it in script section and that’s not all. you’re showing Taxable value of supply including GST and at the end in Payable or receivable your calculation does not add up. and clearly not a way regulators want. Please understand and change the numbers at it’s place and show it in better understandable way.
Has the regulator prescribed a specific format for Dhan only? I don’t think so. It will be generic format for all brokers. I have already added a snapshot Zerodha contract note, which clearly lists all the entries as per the pricing page - Pricing & Detailed Brokerage Charges | Dhan.
Why you also follow the same, provided regulator has prescribed a specific format for Dhan !!!
I Get it. but Dhan has mistaken the the contract note totally. You can’t show brokerage in Script section. it’s only permissible if you are charging brokerage i.e per lot, or unit basis not flat brokerage . for Discount brokers Brokers has brokerage has to be added in Taxable Value of Supply because you’re charging brokerages on Per order basis. and your calculation at the end has to match.
Please find examples below and see how well profit and loss and charges are defined in contract note. where as your contract note, it doesn’t make any sense. if you want do consult with NSE on the below example. and would be great if you can share one contract note of any brokers that shows charges the way you display
almost every broker in our country uses the below format.
Hi @PravinJ - Don’t worry. Contract note format doesn’t matter as long as the final values and calculations are correct (and as specified by exchanges). You guys are doing great job with backend and order execution. And this matters most.
Some people get too emotional with non-trading related stuff. They should focus more on order execution and trading strategies. Let brokers take care of other operational things. People are free to switch to other brokers if they provide “beautiful” contract note. (I told this to my trader friends and we can’t stop laughing )
I have two accounts with Dhan and it’s been a fantastic experience in terms of order execution till date. Keep it up team!