What is the impact on trading limit on execution of any sale transaction?
Your trading limit would go up by the value of sale transaction net of the amount temporarily withhold on account of TDS. An amount equivalent to 16.995 % of the sale transaction is withheld against the actual TDS to be computed by the ICICI Banks (designated bank for Portfolio Investment Scheme). At the end of day, bank will calculate the actual TDS considering the cost of acquisition and the period of holding. TDS so calculated will be compared with the amount withheld there against at the time of execution of the sale transaction. Any excess amount so withhold will be added back in your limits before the start of next trading day. Amount withhold /Actual TDS amount will be reflected in the cash projections. The above is applicable for PINS Accounts only. However in case of NON-PINS Accounts , such adjustments / refund is made only on submission of documentary proofs. For Example say on 01-01-1999 you had bought 100 shares of ABC at Rs.100. You are now selling these shares on 30-06-2
