Is IT return mandatory for Home loan

POSTED BY Dipesh ON August 28, 2012 2:23 pm COMMENTS (3)

Hi All,

I am salaried individual. Is Income tax return mandatory to get home loan from banks or If I have form 16 of all my employers will do.

Thanks,

Dipesh

3 replies on this article “Is IT return mandatory for Home loan”

  1. Dipesh says:

    Dear Ashal,
    I do not have IT return for financial year 2009-10. I was abroad and some how missed it. I have IT return for 2008-09, 2010-11 and this year ie 2011-12.

    Will it cause any problem for procuring home loan?

    Thanks,
    Dipesh

    1. Dear Dipesh, relax, as you do have ITRs for 2 immediate previous FYs, normally bank ‘ll not ask for 3rd FY’s ITR. In case bank demands it, you may provide the form 16 of FY 2009-2010 & ITR of 2008-2009.

      Thanks

      Ashal

  2. Dear Dipesh, May I know why do you not have ITR? In the absence of ITR, if you are giving only form 16, the bank ‘ll look the data with a suspicion.

    Thanks

    Ashal

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