What is a contract note?

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Contract note is a statement of confirmation of trade(s) done on a particular day for and on behalf of a client. A contract note is issued in the prescribed format and manner, establishing a legally enforceable relationship between the member and client in respect to the trades stated in that contract note.

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Contract note is a statement of confirmation of trade(s) done on a particular day for and on behalf of a client. A contract note is issued in the prescribed format and manner, establishing a legally enforceable relationship between the member (GSTCL) and client in respect of the trades stated in that contract note. For Internet trading clients, the contract notes are digitally signed and sent to their email id.

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A contract note is a document issued by the stock broker detailing the transactions done by the particular client on any given date. It includes the name of the companies in which transactions were done along with the other details such as purchase rate, brokerage charged as well as the statutory levies applied on the transactions. An additional statement would be forwarded along with the Contract Note detailing the Securities Transaction Tax (STT) charged on the transaction undertaken. The STT document has to be preserved by the client(s) in order to claim deduction, if eligible, u/s 88E of the Income Tax Act, 1961.

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It is a statement of confirmation of trade(s) done on a particular day for and on behalf of a client. A contract note is issued in the prescribed format and manner, establishing a legally enforceable relationship between the member and client in respect to the trades stated in that contract note. Contract notes are made in duplicate, where the member and client both keep one copy each.

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A. Contract note is a statement of confirmation of trade(s) done on a particular day for and on behalf of a client. A contract note is issued in the prescribed format and manner, establishing a legally enforceable relationship between the member and client in respect to the trades stated in that contract note. Contract notes are made in duplicate, where the member and client both keep one copy each.

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