Loan for construction of house(housing loan) on business itr

This query is : Resolved

Kiran Ramdas Surve (Querist)
Follow

29 December 2016 Dear Expert,
One of my client carrying business of Beer Shopee. He has filed IT return for last 3 assessment years for getting Housing Loan ( Construction of House ). Now, I have question that, Can he get loan from Bank for construction of house based on his business ITR or not?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

29 December 2016 Yes, the banker may be interested in knowing his business income to assess his repayment capacity.

Kiran Ramdas Surve

Kiran Ramdas Surve (Querist)
Follow

29 December 2016 Dear Sir,
I have some more question , When He asked Nationalised Bank Manager for loan, they told that they not give loan for construction of house. Why they not ready to give loan for consruction of House? Any other way for obtaining loan ?

Upgrade to CAclubindia Pro. Subscribe Now!

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

29 December 2016 Loan is given for construction of the house by nationalised banks. Contact SBI home loan dept.

Kiran Ramdas Surve

Kiran Ramdas Surve (Querist)
Follow

29 December 2016 Thank You Sir,For your valuable suggestion. I will contact to SBI.