How Brokerage Works in India: Delivery, Intraday, F&O and Hidden Charges

Brokerage is only one of six stock-market charges. Understand STT, DP charges, GST and stamp duty before comparing brokers.

By LetsInvest Research Desk · Updated 13 Sept 2026

When you trade, you pay: (1) brokerage, (2) STT, (3) exchange + SEBI charges, (4) GST, (5) stamp duty, and (6) DP charges on delivery sell (~₹15-20). Discount brokers cut only item 1 — the rest go to the government and depositories regardless of broker.

What to compare

Delivery: ₹0 at Zerodha/Dhan vs ~₹20/order elsewhere.
Intraday/F&O: flat ~₹20/order at most discount brokers.
AMC + opening: ₹0–₹300/year Polo.

Use our brokerage calculator and the broker comparisons before opening an account.

Educational content, not financial advice.

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