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Cash credit loan

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Querist : Anonymous

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Querist : Anonymous (Querist)
28 December 2012 I file IT return regularly without maintain books of account, now my question is can i obtained Cash credit from bank on the basis of my IT Return.
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@VaibhavJ

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@VaibhavJ (Expert)
28 December 2012 Hi

Yes you can apply however, bank also requires financial statements for CC credit loan.

Since this loan is in the form of current capital boost to business & if you can not provide data for sales bank will not be in position to determine your Drawing Power.

Thanks!!

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