DP Charges Explained: How Each Broker Counts Them
A DP charge applies when you sell delivery shares, but brokers count it differently: some once per stock per day, others for every sell order. Broker-by-broker rules, sources and worked examples.
What the DP charge is
A DP (depository participant) charge is levied when securities are debited from your demat account, which happens when you sell delivery shares. It usually has three parts:
- the depository's fee (CDSL or NSDL), which CDSL sets slightly lower for women first holders (₹3.25 instead of ₹3.50 at the brokers that publish the split);
- your broker's own DP fee;
- 18% GST on both.
Buying shares, intraday trades and F&O do not attract a DP charge, because nothing is debited from your demat.
The rule that matters: what counts as one charge
The price is not the only difference. Brokers count the charge differently, and that decides what you pay when you sell the same stock in more than one order:
- Once per stock per day. Every sale of the same stock (ISIN) on one day is combined into one debit. Selling 10 shares at 10 am and 10 more at 2 pm costs one charge. Zerodha and Upstox say this, and Kotak's support page says it for its digital plans.
- Per sell order or per sell transaction. Each sell order is charged separately. Groww says it applies DP "per sell order, not per stock", and Angel One's own example is that selling TCS in the morning and again later the same day attracts DP twice.
- Per ISIN debit. 5paisa and HDFC SKY describe the charge per debit or per demat transaction, without saying how several same-day orders are grouped. The calculator treats each order as a separate debit, which may overstate the cost.
- Custom. ICICI Direct (NSDL accounts) charges ₹20 + GST for the first debit of a stock in a day and ₹4 + GST for each further debit. Mirae Asset Sharekhan charges nothing on sales made through it.
DP rules for the brokers we review
| Broker | DP charge | How it is counted | One ₹10,000 sale split into 2 orders on one day | Source |
|---|---|---|---|---|
| Zerodha | ₹15.34/scrip/day | Once per stock (ISIN) per day | ₹15.34 (charged once) | Zerodha support – What do DP charges mean? |
| Groww | ₹23.60/sell order | Every sell order | ₹47.20 (charged twice) | Groww help – Are DP charges per stock or per order? |
| Angel One | ₹23.60/sell txn | Every sell transaction per ISIN | ₹47.20 (charged twice) | Angel One support – DP charges |
| Upstox | ₹23.60/scrip/day | Once per stock (ISIN) per day | ₹23.60 (charged once) | Upstox – Brokerage charges |
| ICICI Direct | ₹20 + GST/scrip/day | Broker-specific | ₹28.32 (₹20 + ₹4, + GST) | ICICI Direct – Brokerage & charges |
| HDFC SKY | ₹23.60/ISIN debit | Per ISIN debit | ₹47.20 (charged twice) | HDFC SKY – Demat account charges |
| Kotak Securities | 0.04% (min ₹20) + GST/day | Once per stock (ISIN) per day | ₹23.60 (charged once) | Kotak Neo – Trade Free Plan (Charges / Demat Charges / Other Charges tabs) |
| Motilal Oswal | Not verified | Not verified | Not verified | Motilal Oswal – Open demat account (current headline tariff) |
| 5paisa | ₹23.60/ISIN debit | Per ISIN debit | ₹47.20 (charged twice) | 5paisa – Demat account charges explained (updated 18 Sep 2026) |
| Sharekhan | Nil via Sharekhan | Broker-specific | ₹0 | Mirae Asset Sharekhan – Pricing |
The column "one ₹10,000 sale split into 2 orders" shows the difference in practice. Motilal Oswal's current DP charge is shown as not verified because it is not on any accessible official page. Older Motilal Oswal documents describing a "TRX20" scheme are legacy and are not used here.
Worked example: selling one stock in two orders
You sell 20 shares of one company in two orders of 10 shares on the same day, for ₹10,000 in total:
| Broker | Rule | DP you pay |
|---|---|---|
| Zerodha | Once per stock per day | ₹15.34 |
| Upstox | Once per stock per day | ₹23.60 |
| Groww | Per sell order | ₹47.20 |
| Angel One | Per sell transaction | ₹47.20 |
| ICICI Direct (NSDL) | ₹20 first debit + ₹4 next, + GST | ₹28.32 |
If you had sold all 20 shares in one order, the Groww and Angel One figure would have been ₹23.60. On per-order brokers, placing one order instead of several is the simplest way to cut DP costs. Try your own numbers in the brokerage calculator, which has a "sell orders" field and a women-first-holder option.
Why it matters for small investors
A ₹23.60 DP charge on a ₹2,000 sale is 1.18% of the sale value, more than most brokers' delivery brokerage. If you sell many small positions, DP charges can cost more than brokerage.
Ways to reduce DP charges
- Sell in one order where you can, especially at brokers that charge per sell order.
- Sell less often and in larger amounts per stock.
- Compare the rule, not just the rupee figure, if you rebalance or book partial profits often.
- Check whether your broker applies the lower women-first-holder depository fee.
Related: how brokerage charges work · hidden charges.