Over declaring income for the purpose of a loan

Needless to say, under declaring income to evade income tax is a crime. But, what would be the consequences of over declaring income just for the purpose of being eligible for a loan. This is what someone wants me to do. He would like to show his income higher than what he actually earns just so he can apply for a loan for a vehicle. What would happen if this were done? He has his own relatives with businesses who will help him with necessary salary slips etc.

Thanks,

Neeraj

Replies (3)
Quick Summary
This discussion explores the ramifications of intentionally overstating income on a loan application, even if it's not for tax evasion. While some suggest it's merely 'projection' and not a crime, the thread questions the potential negative outcomes and ethical considerations of providing falsified salary slips to secure a vehicle loan.

Over declaration of income have no negative consequences as providing higher income is not a crime. However, it is better to declare proper income.
It is not called over declaration it is called projection . It is mainly done I case of huge projects.
The query is completely different

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