What is the requirement to obtain CC Limit Rs.5 Lakh ?
This query is : Resolved
25 July 2009
How should prepare a Balance Sheet and Profit & Loss A/c to obtain CC Limit Rs.5 Lakh from a Bank and What should be the income in ITR ?
25 July 2009
(1) Debt Equity Ratio after considering loan should be not exceed 1 : 3.
(2) Net profit + depreciation should be more than repayment of interest and loan principle part if any. (ie 1.33)
(3) Current ratio should be 1: 2
(4) Any loans existing should not be withdrawn or repaid during the pendency of the Bank loan.
(5) Turnover should be 5 times of your loan expectation. ie 25 Lakhs.
(6) Your stock should be minimum of rs.7.5 Lakhs paid stock.
(2) Net profit + depreciation should be more than repayment of interest and loan principle part if any. (ie 1.33)
(3) Current ratio should be 1: 2
(4) Any loans existing should not be withdrawn or repaid during the pendency of the Bank loan.
(5) Turnover should be 5 times of your loan expectation. ie 25 Lakhs.
(6) Your stock should be minimum of rs.7.5 Lakhs paid stock.
Message likes :
7 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Fixe term employment
- Is any professional CA is here please reply
- Gift Received from nonblood relative
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Putting a heading on received mail
- Experts need help
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
