banner_ad

Bank Loan

Others 195 views 6 replies
User Avatar

Student
58 Points Posted on 21 October 2018
Gross Total Income or Net Total Income -
Which one is taken
into consideration for Bank loan purpose.
1 Reply Share Follow
On 21 October 2018 at 08:52 Report
Replies (6)
User Avatar

a
1620 Points Posted on 21 October 2018
net income......
Reply
On 21 October 2018 at 09:37
User Avatar

Student
3549 Points Posted on 21 October 2018
Yes Net total income
1 Reply
On 21 October 2018 at 10:00
User Avatar

Chartered Accountant
1272 Points Posted on 21 October 2018
Net Income will be taken into consideration
1 Reply
On 21 October 2018 at 10:08
User Avatar

"Do the Right Thing...!!!"
128152 Points Posted on 21 October 2018
Yes... Net income.

In some the files it's taken to Total Income...
1 Reply
On 21 October 2018 at 10:16
User Avatar

Student
58 Points Posted on 21 October 2018
Since Net total income is after deduction under chapter VIA, which are not actually expenses.

Then also why Gross total Income not taken in account for bank loan purpose.
Reply
On 21 October 2018 at 10:28
User Avatar

"Do the Right Thing...!!!"
128152 Points Posted on 21 October 2018
Dear Mr Niraj.,

It's called taxable income as

Net Income (-) Deductions = Taxable Income...

Taken loan and Your business income is Net income. Also banks view Your financial transactions.
Reply
On 21 October 2018 at 10:49


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topic

More recent discussions | Post

Related Topics
Loading

Latest Job Openings

View all
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details