Home loan documents - p/l and balance sheet

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Querist : Anonymous

Querist : Anonymous (Querist)

08 May 2014 Hi,

I am a freelance web developer working from home.

I need to apply for home loan. Most of the banks websites say that the Profit / Loss and Balance Sheet is required for home loan.

Since I receive my earnings through paypal and then by bank transfer, I do not have the P/L and Balance sheet.

I just have my Income Tax returns.

What should I do to proceed on getting a home loan?

If the bank compulsorily ask me these documents, how will I get those?

please advice.
Thank you.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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08 May 2014 yes, banks ask for the same in case of professionals and businessmen. you can ask a CA to prepare the profit & loss account and balance sheet for you.

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Querist : Anonymous

Querist : Anonymous (Querist)

08 May 2014 Thank you sir.

Just one more clarification.

I have filed my income tax returns for the past two years myself online by calculating my income.

Will the amount on profit & loss account and balance sheet which the CA prepares for me match my income tax returns?

Thank you again for your prompt response sir.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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08 May 2014 well he will have to match otherwise it will appear as a discrepancy.

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