Query regarding Upstox account

182°
Deal Subedar
144
1351
7

Hi folks,

I had opened Upstox trading account last to last year as it was free that time; I have never used it even once, since I didn’t feel comfortable in stock market things; so basically my csdl/nsdl demat has no holding (except maybe 1 free unit that rskv gives during joining). Recently I observed my Upstox app shows a negative balance of some 176.90 which appears to be some a AMC charge (+gst). What do I need to do now ? Do I need to pay it off ? I never intend to use or get in trading anytime now.
https://i.imgur.com/p7gtt...pg
https://cdn0.desidime.com/attachments/photos/678077/medium/7543362p7gttf7.jpg?1618382420

22 Comments  |  
11 Dimers
  • Sort By
21
16182
140
BlueFlash wrote:

@bikidas2060 Any suggestions ? Kindly tag the experts if needed smile

Just pay the AMC. Ask Upstox to send you a BSDA form. Manually enter the details n courier them or ask them if they could that on behalf of you from their end. And you ll not be charged a dime until BSDA tnc are maintained. 🙂

16
2545
33

Where can I buy Coinbase share from India?

674
5288
57

It maybe the depository maintenance quarterly charge of Rs.10-15+gst I think(it is like those quarterly bank sms charges just with no option to disable).

674
5288
57
sardasa wrote:

Where can I buy Coinbase share from India?

You can’t, the process to invest directly in markets abroad is quite complicated & with lots of tax hassles while filing ITR. You will need to open an overseas investment acc using one of the Indian/international broker here & then transfer the money abroad which can then be used to buy shares.
https://tradebrains.in/invest-in-foreign-stocks...

16
2545
33
Expand
guest_999 wrote:

You can’t, the process to invest directly in markets abroad is quite complicated & with lots of tax hassles while filing ITR. You will need to open an overseas investment acc using one of the Indian/international broker here & then transfer the money abroad which can then be used to buy shares.
https://tradebrains.in/invest-in-foreign-stocks...

Did you check Binance? They’re allowing trading in tokenized stocks. They’re at par with real US shares + no withdrawal fee & mark up for INR to USD would also be less. You can buy USDT on WazirX and transfer it to Binance and use that to buy BUSD and then buy US tokenized stock.
I am especially interested in Coinbase listing today. Expecting it to lost around $250 and then whatever the growth would be.

0
7038
146

It is Demat AMC Charge. It is chargeable every year 150+GST. Yes you have to pay this.
If not required send Account closure for to them.

65
1499
7

And in case of upstox, If you convert account to BSDA raise a ticket and ask to reverse the negative charges, They’ll do it too.

674
5288
57
Expand
sardasa wrote:

Did you check Binance? They’re allowing trading in tokenized stocks. They’re at par with real US shares + no withdrawal fee & mark up for INR to USD would also be less. You can buy USDT on WazirX and transfer it to Binance and use that to buy BUSD and then buy US tokenized stock.
I am especially interested in Coinbase listing today. Expecting it to lost around $250 and then whatever the growth would be.

Just this description itself sounds like a lot of hassle involving multiple cross border transactions. If you think you can manage it all along with the ITR2/3 then go ahead.

50
4299
35
Expand
sardasa wrote:

Did you check Binance? They’re allowing trading in tokenized stocks. They’re at par with real US shares + no withdrawal fee & mark up for INR to USD would also be less. You can buy USDT on WazirX and transfer it to Binance and use that to buy BUSD and then buy US tokenized stock.
I am especially interested in Coinbase listing today. Expecting it to lost around $250 and then whatever the growth would be.

Only Tesla is there 🤨

16
2545
33
Expand
Vaastav wrote:

Only Tesla is there 🤨

It’s because coinbase will list today. You can trade only after it gets listed.

50
4299
35
sardasa wrote:

Wait till it gets listed.

Do you think these tokenised stocks are gonna come good in future ??

Any downsides of this?? As far as I read it looked absolutely same as normal shares barring few things..

16
2545
33
Expand
Vaastav wrote:

Do you think these tokenised stocks are gonna come good in future ??

Any downsides of this?? As far as I read it looked absolutely same as normal shares barring few things..

No idea. Indian Government needs to regulate them if they’re to have future in India.

105
5759
55
ZNZ wrote:

And in case of upstox, If you convert account to BSDA raise a ticket and ask to reverse the negative charges, They’ll do it too.

+1
Keep sending them email about bsda and get it reversed.

Missing