Axis bank has sanctioned Cash credit limit Rs 1 Crore to me subject to condition minimum utilisation 60% of sanction limit in case of under utilisation bank will charge commitment charges @ 2% per PA (Adject wording of sanction letter is as ' Commitment charges :- Commitment charges to be charge @2% PA on Quarterly basis on entire Unutilised portion if average utilisation is less then 60%)

I have utilised 48% limit in one quarter bank has charges penal interest on 100-48% = 52% portion
but as per HDFC & other bank calculation they are charging on 60-48=12%. ( Axis bank is not accepting this calculation)
Our bank is not considering the matter after senior VP of Axis bank have given verbal commitment on our application for waiver of full commitment chares and same will be credit in our account . but more than 9 month have been passed no action has been taken by bank after so many reminders

I want to know who is the right legal forum to resolve this matter.
and also want to know correct and legal method of commitment charges penalty calculation with Example ( please provide legal reference point link or copy )

please provide me the solution on above matter
thanks in Advance
Vijay Goyal

what is the meaning of scanning , reconciliation in audit techniques ?

Sir/Madam One of my relative has opened a school for profit motive and has made a pan card of a trust for the purpose of getting the registeration from state government. the gross receipts exceeds 2. 5lakhs... is the school liable for audit and what all compliances has to be done.... pls guide me with your valuable suggestions thanks in advance

Dear Sir/ Mam

In a company an auditor has resigned in AGM having 3 years remaining audit tenure. Weather it will result in a casual vacancy.

Moreover, weather the appointment of new auditor will be for 1 year or 5years. And weather the appointment of new auditor will be made by board and later approved by members or the Board will only make recommendation and appointment will be made by members in AGM.

Please give your advice in this regard.

Thanks & Regrds
Shalu Goyal

sir my brother want to start a hotel .we have already applied for food licence and we want projections for bank loan... could you please provide me...i am a CA final student just provide me resources i can adjust my self..thnq

Sir, i have doubt about tds for Business Promotion exp
1.Calendar printing in the name of a company X Ltd
whether co X Ltd charge TDS on payment for above transaction.

2.Printing & Stationery - Bill Books,Tags etc., in the name of X Ltd is it applicable for TDS.

What is the difference between Contingent Liability(AS-29) reported as a note to financials and Disputed dues payable as per clause vii of CARO??

Service tax refund receiveble pending on account of Appeal Made - Is it a contingent liability. Want to know the reason if yes.

Can anybody help me regarding documents to be collected at the time of acceptance of statutory audit engagement.

Case is--
There is a big Manufacturing unit related to Steel fabrication structure. In This unit much Contractors, workers paid by Voucher salary, Worker Overtime,Staff Overtime, Various type of advances like tour & travel, medical emer.,etc is take place. so my Query to respected expert is

1) What compliances should have to follow By HR Department. for
a) Labour law
b) Industry Laws
c) ESIC laws(in case of Contractor also)
d) Salary commision Notifications(Guj. Govt.)
e) Professional Tax(in case of Corporate body Specifics)
f) All compliance related to Contractor(Including C&F agent)

2) Whether there is any Specific provision available for signing in Invoice i.e. Authorised person to sign in Sales invoice In Case of;
a) Excisable invoice
b) Tax invoice(Guj.VAT)
c) RG23 D,RG1(DSA)

I am humbly appeal to respected expert to answer my questions ASAP.

Thank you

Last year my business exceed 1 cr so it was come under 44AB. But current it doesn't exceed 1 cr . What should i do current year.