hello friends.... my query is, will the individual return of partners be of any use in taking the loan for the partnership firm....pls do answer
4 Replies
Devendra
(Chartered Accountant)
(4775 Points)
Replied 14 August 2012
The Income Tax Return of the Partnership Firm will be required for obtaining a Loan from the Bank.
Regards,
Devendra Kulkarni
Shah Tarun
(Student)
(800 Points)
Replied 14 August 2012
Yes,Partners' personal returns are also demanded by Bank for documentation.
CA Shantanu Goyal
(Practicing CA)
(122 Points)
Replied 15 August 2012
Liability of partners is unlimited towards the dues of partnershipfirm. While assessing the worth of firm, bank would like to assess the net worth of the partners and existing liabilities of partners to ensure repayment of loan and that no additional liabilities on the partners. Even CIBIL of all the partners will also be checked by the bank.
so partner's personal return will be required by the bank. In almost all the banks same guidelines are followed.
Fenil
(Owner)
(22 Points)
Replied 20 October 2012
i am frm Gujarat we do LOAN CONSULTING work in here,i have requierment of CMA DATA and PROJECT REPORT of above 1cr.,then anyone to interested to make so contact me on my email id,of course i am not make in free,my email id is sachaniyafenil @ yahoo.com
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