Anon
watch_later 11/03/21
Sir,
A small business person wanted Rs:10 lacs bank loan required from bank.
Question:
A person sales turnover and net profit declare show in it returns(itr) based.
Loan amount depends on different factors.
Profit is only one factor.
Financial institutes check different factors such as credit score, income of applicant, past financial history etc.
Coming to this point. You have not specified EMI, loan tenure etc. So it will not be possible to answer exact profit amount.
However, your profit should be more than EMI+year expenses of person. Or in other words EMI should be at max 40-50% of annual income.
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