I was looking to takeover my cash credit loan from hdfc bank to axis bank. Having completed all formalities, HDFC bank has claimed that they will charge me @4% of total loan limit as pre payment charges.
From the limit information that I have gathered, banks must not levy such charges as per notification no. RBI/2013-14/582
DBOD. Dir.BC.No.110/13.03.00/2013-14

The cc account is a floating rate account in the sense that it is linked to the base rate. It would qualify in the corporate sector as well. The only problem with the same is that i am using the funds from axis bank to repay the loan of hdfc bank. In my research, i had found that if the funds are repaid using own funds, the primary lender has no option but to release property documents. However, i am not assured about the source and logic of the same.

The sanction letter reads that
1) HDFC bank would levy annual charges, pre closure charges and penal charges in case of an event of default, as per the facility documents/ Master facility Agreement/term loan agreement.

2)working capital facilities are payable on demand and are subject to annual renewal. Renewal documents are to be submitted 60 days prior to the due date as mentioned above. Banks reserve the right to charge an additional interest @2% in case the documents are not submitted within the due date. This would be over and above any additional charge/penal rate, if any, that may have been levied to the Borrower.

Will i get relief if i approach tax ombudsman or consumer court?

Dear experts, can practising chartered accountant represent before civil courts without filing vakalathnama ? which means can he represent another advocate who is on record ? thanks in advance . Regards, CA RAVI SHARMA

Dear friend,
I have started an LLP with 3 partners and 100000 amount.

After trying for 12 months, we decided to close it and while striking off process, my CA realised that they have forgotten to fill Form 8 and Form 11. Now he is asking us for penalty which is huge. Is there any work around to save ourselves from that penalty?

Why should we suffer due to our CA's mistake? We have followed all the processes suggested by CA and we also paid their fees as per scheduled. Now, any further delay is increasing the penalty and ca is asking us to pay.

Can you give some advice to deal with situation? Any help would be appreciated.


Thanks,

Smit

Sir,
Please let me know the DDT rate for FY 16-17.

Dear Sir/Mam,
I want to establish my manufacturing unit of leggings, school uniforms and other readymade garments.
I have some queries regarding this

1.Which is more benificial whether to go for a partnership firm or a proprietorship along with its consequences?
2. MP Vat rate applicable on leggings?
3. Threshold limit of taking a tin registration under mp vat.?
Pls. resolve my queries as soon as possible.
Thanking you,
Sanni Wadhwani,

Dear All

My father is just retired from Indian oil. During his service period interest on his pf a/c was exempt. But now he has option. he can withdraw all his pf amount from his account or he can leave it there.

As he is not employee of Indian oil now whether interest on his pf account is taxable or not

thanks in advance

Dear Experts,
I want know frequency of return under ESI and PF act and how many forms require to file under both the act.

R/sir
As per stamp duty act Rs 01 revenue stamp is required to be affix on payment exceeds Rs. 5000/- in this regard my query is : whether there are any slabs to affix revenue stamps for the receipts above Rs 5000/- such as Rs 1/- for receipt of rupees 5000/- to 100000/- , Rs.2/- revenue stamp for receipt above Rs 100001 to 1000000/- and so on... . kindly guide me the provision of affixing of revenue stamp. Also I would like to know how much revenue stamps are required for promissory note for Rs 30.00 Crore.
Thanking You,

Sir, Anyone tell me salary for the purpose of PF and how to get Registration?

I have received a message that your Union Bank account no. ........has been credited by Rs. 49,000/- as cash deposit. Neither the account no. (incomplete no.) belong to me not I had deposited any cash in bank.. On being contacted the local bank here, they could not clarify saying that without knowing full account no. they cannot say anything. What should I do to clarify the same. ?