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I T for loan
Sir, if want to take loan for Rupees 10 lakhs from the bank. How much income shows in my I T return and how much tax paid. Please reply my query.
Replies (1)
it depends on EMI of loan
EMI varies with type of loan you want to take
EMI depends on
a.loan amount
b.interest rate
c.Tenure of loan
Total income to be shown in IT returns is EMI*12/65%
some banks may consider 65% instead of 60%
EMI varies with type of loan you want to take
EMI depends on
a.loan amount
b.interest rate
c.Tenure of loan
Total income to be shown in IT returns is EMI*12/65%
some banks may consider 65% instead of 60%
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