Can any one correct me if I am wrong,

If I tell that I am using 9600 baud with no parity ,1 start and 1 stop bit,the actual useful information(the data) flow will be at the rate 960 bytes/sec.

This is beacuse one byte of information is encapsulated with 1 start and 1 stop bit,thus making it 10 bits per useful byte.

byte rate = bitrate / 10 (for 1 start and 1 stop with no parity)