-file charges at the time of taking loan- (Others)

This query is : Open

Author : Anonymous

( Author )
31 May 2012

Dear,

Can anyone tell me that is it ok to book file charges made by bank at the time of taking loan for a vehicle without invoice.

CA PARAS BAFNA

( Expert )
31 May 2012

You must have the proof of amount taken by the Bank or the same has been adjusted from Loan Sanctioned.
.

Author : Anonymous

( Author )
01 June 2012

sir,

I describe you the whole things.
Actually we bought a car of Rs. 15lakh from toyota through finance.They(Sale agency) send us an invoice of Rs. 15 lakh.But the payment were made as follows
50000 booking amt.
200000 Down payment
50000 1st EMI
5000 File charge
12lakh Loan

Hence we made a payment of 15.05 lakh but receive invoice of 15 lakh.

Now see it from another angle
from Agency's point=====>
collection=50000+2Lakh+50000+5000+11.95Lakh=15lakh only

From bank,s point==>
Loan amount 12 Lakh
Payment made to Agency=11.45
But they show in loan statement 11.50 lakh

I have no invoice of Rs.5000