How much tax for loan?

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CA FINAL
375 Points Joined February 2012

one of my client wants to take loan from bank.

suppose he wants a loan of amount 5 lakhs,then he has to provide the ITR of atleast 2 years ..Most probably banks will consider ITR for 3 years.

now i want to ask that how much income shoulb be shown in ITR and how much tax should he pay to get that loan??

pls suggest

thanks

 

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On 20 July 2014 at 13:31 Report
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Student as well as Self-employed
3710 Points Joined September 2007
in case of home loans, 5 to 10 times of itr amt is given on loan depending upon repayment period. and in case of other loans, 3 to 5 times of itr amt is given on loan. but it is not a hard and fast rule, it may differ sometimes.
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On 21 July 2014 at 00:22


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