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Income tax

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(Querist)
26 March 2018 Dear Experts,
For Business loan , which Income taken into account. i.e, Gross or Net Total Income
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K Srinivas, CMA CS

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K Srinivas, CMA CS (Expert)
27 March 2018 We usually take Net Annual income after deductions
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RONI

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RONI (Querist)
28 March 2018 Sir, deduction under chapter VI A are not expenses, then also why Gross Total Income is not taken into consideration for bank loan purpose
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
16 November 2021 Banks consider net profit of the business, for last three years along with turnover ratio.

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