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How much tax for loan?

ITR 302 views 1 replies

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

 

Replies (1)
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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