Business of arranging loans from banks
kaidjohar
(Querist) 16 November 2013
This query is : Resolved
R/Sirs,
Facts:My client want to start a busines collecting/Arranging loan papers n sanctions loan from Banks and charge fees to clients.
Q.1.Under which law required to apply licence ?
2.Other than Income Tax n Service tax Liable to pay tax.
Thnax..
ajay sethi
(Expert) 16 November 2013
your client is basically acting as broker /consultant .
you have not mentioned whether he wants to work as sole proprietor or as partnership firm or as company .
if it is partnership firm registration would be advisable under partnership act . if he wants to form company follow the procedure laid down under companies act .
prabhakar singh
(Expert) 16 November 2013
The great thing you or your client has look
into that can there be any intermediary between a debtor and the bank?
However there can not be a bar in helping debtor to complete formalities concerning the grant of a loan by a bank for which your client can charge his agreed fees for which he would need a registration of his office under shop registration Act and constitute the firm as he desires.
kaidjohar
(Querist) 16 November 2013
Thank u vry much all of u n sp.thanx to Prabhakar sir to appriciate me..
Thanx..
Raj Kumar Makkad
(Expert) 20 November 2013
I do endorse the wise advice of Ld. Prabhakar sir.
