Your stock selling income is set to completely revolutionize with an amendment applicable from October 7, 2024. Now, all your stock selling income proceeds i.e., 100% of the proceeds will be credited to your trading account on the very same day when you sell the shares. You can use the total amount to buy more stocks and take positions in the F&O market.
What’s the previous stock selling proceeds rule?
Only 80% of the stock selling proceeds were credited on the same trading day, and the 20% left would be available on the next trading day. In intraday trading, profits were credited only after the settlement on the next day. This rule has been fully applicable since September 2021.
Change in the stock selling proceeds rule
Earlier, when you sell shares of ₹50 thousand on Monday, then you will only get 80% which is ₹40 thousand on the same day in your trading account. The remaining ₹10 thousand will be accessible on Tuesday. From October 7, 2024, you will get the entire ₹50 thousand on the same selling day and you can trade more in stocks, futures, and options.
Now trade easily in the stock market with full income proceeds. Don’t wait, and open Demat account with SMC Global Securities.
Reference
https://economictimes.indiatimes.com/markets/stocks/news/investors-can-now-access-100-of-sale-proceeds-for-same-day-trading/articleshow/114020922.cms?from=mdr
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