Home Loan

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Pallavi (Querist)
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08 May 2011 A person has Gross Receipts of Rs 450000 & he is availing new Sec 44AD.As a result his tax liability is nil. This person is not maintaining Books of A/c (Balance Sheet n Mail).
Will such a person get home loan on the basis of ITR? If not then what is such a person suppose to do in order to get home loan?

CA. Krishna K Neeraj

CA. Krishna K Neeraj (Expert)
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09 May 2011 For any loan including Home Loan, you will require to establish that you had actually received the amount which you have shown in ITR.

It will depend on bank how they will assess your credit worthiness to grant you loan