question about bsda account
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limit of holdings of bsda is increased
https://www.livemint.com/market/stock-market-ne...
zerodha converted all accounts with holdings above 2 lacs to normal demat account as per the article above if porfolio value is between 4 lacs and 10 lacs the charges will be 100. 100 quarterly or yearly? And how to convert a normal demat account to bsda when this gets implemented?
@Rajkotian @Watcher @flash007 @LordGane @Stone_man @HasdaChehra
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https://www.desidime.com/comments/permalink/10161014
but paji if status changed from bsda to normal account already and now this notification comes which has increased limit of bsda. so now is there something needed from our side to convert account from normal to bsda? and rs. 100 charges in bsda from 4lacs to 10lacs are quarterly and including gst? + @Jarvis.-.
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As per rules , if your amount of holdings is less than threshold , it gets converted to BSDA by default.
5-7years ago , there was form formalities which needed to be done by account holder.
Addition:
https://www.google.com/amp/s/www.bizzbuzz.news/...
"Under the revised rules, no annual maintenance charges apply for portfolios up to ₹4 lakh, while portfolios ranging from ₹4 lakh to ₹10 lakh will incur a charge of ₹100.
If the portfolio value exceeds ₹10 lakh, the BSDA will automatically convert to a regular demat account. BSDA holders will receive free electronic statements, with a fee of ₹25 per physical statement if requested.
Depository Participants (DPs) are required to open BSDA accounts for eligible individuals by default, unless otherwise specified by the account holder.
DPs must also review and convert eligible demat accounts to BSDA within two months, unless the account holder opts to retain their regular demat account. This review will occur at the end of each billing cycle."
Hope it helps you.