MIS stands for Margin Intraday Square Off, and it is used for commodity, F&O, and equity trading. At the time the trader did not square off the trading position within the given time, the order gets automatically squared off by the system at the end of the day, and Zerodha charges INR 50 per square off order additionally to the brokerage charges of 0.03% or INR 20 per executed order.