Housing loan requirement

Housing loan never processed based on only income tax returns. So even if you disclosed Rs.1 crore as turnover/salary in your income tax return and your Form 26AS or your bank statement doesn't support what is mentioned in your income tax return, bankers would ask you follow up question as to document in support of your income.

Tax return is something we self declare and shall always be supported by underlying documents whether or not asked by tax authority. It is easy to declare any income in your ITR but if you wish to get your loan sanctioned, you must need to produce some sort of solid evidence like credit entry in bank statement, form 26AS and so.

Regards,

Manoj