In the first week of February, clients of these brokers must pay as much as 100% upfront margin for all new positions within the margin trading facility (MTF) in the cash segment in an attempt to discourage traders from taking excessive risks in the event of sharp swings.
Budget 2024: The industry wants the Finance Ministry to reconsider the decision of applying TCS at such a higher rate of 20%. The rate is exceptionally high and almost punitive to the citizens who need to make foreign payments, say experts. Earlier, TCS used to be applicable at 5% when you cross the threshold of Rs 7 lakh for certain transactions.