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Loan

RADHIKA JALAN (agarwal) (1521 Points)

01 December 2014

Whether it is mandatory to file ITR for taking loan from bank?

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Giridhar S Karandikar (Team Lead) (7548 Points)
Replied 01 December 2014

Some of the banks like say SBI, BOB etc ask for your Form16 or I-T return while taking a loan. Other banks like ICICI, HDFC, Axis ask only for last six months bank statements, then payslips if u r salaried or B/s & P&L if u carrying business.

But if you are taking a loan it is always advisable to file a Return as it serves as a good vehicle for the financing co to assess your credibility and your repayment power.

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