if we go for home loan,whether bank will gross total income or total income to procees the loan.
like if he see itr-v or total itr form...
Dear Friend Balthi,
For Home Loan following item is deducted while calculating the eligiblity of loan from gross salary Income
Medical Expenses
LTA
And any Deduction like income tax,PT and PF
Also any Obligation like Installment of any Loan
Such above item not considered as income.
on Such Net Income 50- 60 times loan is available.
On remainig Net salary EMI restricted to 40-50% of your monthly Income *60 times
Eg Your Net salary after deducting all above spefic item is Rs.25000 then your Loan Amount will be
25000*50%=12500*60times= 750000 P.A is your EMI
3 years ITR form is Necessary for Loan
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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CAclubindia
