If you want to apply for a loan💸, such as a personal loan, home loan, or car loan, you may be required to submit your Income Tax Return (ITR) 📁 documents as part of the loan application process.
Most banks and financial institutions require the last 2-3 years' ITR documents as proof of income for loan applications.
Here's top 3 reason why lenders often request ITR documents:
❶ It helps lenders assess your income and repayment capacity
❷ It helps lenders see that you have a stable source of income
❸ It shows the lender that you are financially responsible person
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The Central Board of Direct Taxes (CBDT) has introduced a new electronic
form called Form 71 to help people correct errors in tax deduction at source (TDS).
This change is part of the Income Tax Rules, 1962 and will come into effect on October 1, 2023
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☎️ Call: +91 022 28983664
🌐 Website: https://www.cajdshah.com/#accountingservices#moneymanagement#GST#retirementplanning#retirement#finances#financialsuccess#JDShah
JD Shah Associates | Best CA Firm in Borivali
Leading CA firm in offering comprehensive financial advisory, taxation, and auditing services in Mumbai. Trust our expertise for your business success.
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