1 october 2024 : Zerodha CEO Nithin Kamath announced that equity delivery will remain free at Zerodha, stating, “We are not making any changes to our brokerage for now.” Regarding recent changes in the stock market effective from today (October 1), he noted that the Securities Transaction Tax (STT) for options has increased from 0.0625% to 0.1%, while the transaction charge has decreased from 0.0495% to 0.035%.
He explained that this results in a net increase in trading costs of 0.02303% or ₹2,303 per crore of premium for selling on the NSE and 0.0205% or ₹2,050 per crore on the BSE.
For futures, Kamath indicated that the STT has risen from 0.0125% to 0.02%, while the transaction charge has decreased slightly from 0.00183% to 0.00173%. This change results in a net increase of 0.00735% or ₹735 per crore of futures turnover for selling.
Kamath highlighted that since STT is applied to the entire contract value for futures, the impact will be significantly larger for futures traders compared to options traders, where the STT is only charged on the premium.