How much loan can i get based on my itr

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 July 2012 Dear all,

I am practicing as tax consultancy, in my practice i am facing one problem i.e, if a business person comes to my office and ask me to file IT Return but before filing he will ask how much loan can i get based on this Income Tax Returns

if i tell you show your original income and banker will tell how much loan you can get then party(customer) will go and meet other tax consultant

so please tell me what i have to tell to customer

CA Chandrasekaran.S.R

CA Chandrasekaran.S.R (Expert)
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23 July 2012 generally it will be 50 months take home pay depending upon the age of employee such that it covers the repayment before his retirement.his bank statement will reasonbly self speaking to know his capacity to repay in case of businessmen

CS, Deepak Pratap Singh

CS, Deepak Pratap Singh (Expert)
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23 July 2012 Dear Friend, Generally bank will advance 4 times of net income declared by the assessee in his returns.

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CS, Deepak Pratap Singh

CS, Deepak Pratap Singh (Expert)
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23 July 2012 Dear Friend, Generally bank will provide four times net income declared by the assesee in his income tax returns. so keep it in your mind. Thanks