Need loan for self employed - freelancer (graphics designer)

U can provide ur income tax returns for that u have to go to nearby CA for consultation

Thanks for replying, i have my ITR at hand but the bank asked for salary slip and proof of income which in my case i cannot provide as i am a self employed freelance graphics designer with all the income coming from working online for clients. 

Its all policy of Bank.May try at other bank

rashmi gandhi, Please dont reply with irrelavant answers. Please read the query clearly first and only reply if you find it relevant and have an exact solution for that. thanks. 

 

Here is loan giving criteria of SBI.Check out

DOCUMENTS

List of papers/ documents applicable to all applicants:

Completed loan application

3 Passport size photographs

Proof of identify (photo copies of Voters ID card/ Passport/ Driving

licence/ IT PAN card)

Proof of residence (photo copies of recent Telephone Bills/ Electricity Bill/

Property tax receipt/ Passport/ Voters ID card)

Proof of business address for non-salaried individuals

Statement of Bank Account/ Pass Book for last six months

Signature identification from present bankers

Personal Assets and Liabilities statement

For guarantor (wherever applicable):

Personal Assets and Liabilities Statement

2 passport size photographs

Proof of identification as above

Proof of residence as above

Proof of business address as above

Signature identification from his/her present bankers

Additional documents required for salaried persons :

Original Salary Certificate from employer

TDS certificate on Form 16 or copy of IT Returns for last two financial years, duly acknowledged by IT Deptt.

Additional documents required for Professionals/self- employed/ other IT assesses:

Acknowledged copies of three years I.T. returns/ Assessment Orders.

Photocopies of challans evidencing payment of Advance Income Tax.

U can collect Form 16A if your clients have deducted TDS and show it as a proof. That along with Intimation US 143(1) received from the Income Tax Department may do the trick.

thanks for the info. But my sitation is that i am a freelancer working online and all the income is generated from clients abroad who give payments through the site. Do you know of some procedure that does not require form 16. My work is like business providing servides to client in which no physical product is involved. 

Is it possible for your clients to provide you a certificate certifying that they have paid you X amount for your professional services of web designing. If yes then you can enquire with the bank if that is acceptable.

Thanks for the clue. All the imcome is received thru NEFT and it shows the company name "freelancer pvt ltd" in the bank transactions, do you think this will work as far as proof of income is concerned. 

You can ask the bank manager. See if it works.

The only solution is to talk with your bank manager & discuss with them. Ask for some solution & which document they will accept for granting u loan. You can ask for ur bank statement as proof of income, CA Certificate , Declaration from ur clients etc.

U can also discuss wid them about above checklist provided by me. There is no salary slip requirement for non-salaried person.As u r self employed u have to give IT Return clearly specified in checklist.

most important think you have your own residence 

and what mortgate you are giving for loan 

if banks not entertain u go to credit co-opertive sociery 

if you want personal loan u should be working with big firms 

your net take  home  should be more than 30000/- 

if want business loan u need to give mortgate or 2  guarantor

Thanks, can you give a brief on co-opertive sociery and how they work