my salary is 21000pm and after deducting some allowances my taxable income is below 250000/-
so can I gate loan of 1000000/-on such ITR1 based.
or I need to show some tax for ablow loan amount.
4 Replies
CA Bhavik Soni
(867 Points)
Replied 21 August 2018
Bankers will check your repaying capacity. And if your ITR doesn't permit then bank can deny for loan.
Sharda Vishwakarkma
(82 Points)
Replied 21 August 2018
ok than for confirmation of loan how can I prepare a ITR1 nill or to show some tax.
Rajasekar
(TDS Preparer)
(1445 Points)
Replied 21 August 2018
if it is personal loan then the bank will not approve ten lakhs. if you have any other assets you can avail for PL. any way you are eligible for 6 L
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