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)

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)

08 May 2014 well he will have to match otherwise it will appear as a discrepancy.

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