-file charges at the time of taking loan-

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Querist : Anonymous

Querist : Anonymous (Querist)

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

CA PARAS BAFNA (Expert)
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31 May 2012 You must have the proof of amount taken by the Bank or the same has been adjusted from Loan Sanctioned.
.

Querist : Anonymous

Querist : Anonymous (Querist)

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

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