Paying Income Tax For First Time!

[therazorman]

Hey Guys, I am a freelancer and now I am above the slab of INR 180000, so I have to pay income tax for the financial year 2011-12.

My question is I am thinking to buy a car by the end of July and my choice is to finance it completely. I will give the complete documents to the bank but I have no idea about that income tax rule.

As I am paying it for the first time, I think I am not eligible for Car loan , is that true???

Serious Help needed Guys!

 

[P3T3R]

No idea as I don't pay IT. I will however have to start paying soon.

 

[speed1]

Hi therazorman
For car loan eligibility, check various bank (HDFC, Axis, ICICI, etc.) websites. Almost all the banks do have online eligibility calculators and emi calculators. Just fill form and get the result.
btw which car are you planning?

 

[Santosh V]

Hi therazorman,

As speed1 mentioned check the loan calculator which will help you, you cannot completely buy it on finance option a minimum downpayment is must! So which car are you planning to buy:) anyways u buy a car or not you will end up paying ITas it a comfort commodity you are buying.. Good Luck for your plans of buying car.


Santosh.V

 

[gears1313]

They ask for last three years records i guess. If not so then you will need atleast two guranters with strong IT papers or so... I am not sure though..

 

[Umang]

They ask for last three years records i guess. If not so then you will need atleast two guranters with strong IT papers or so... I am not sure though..

you are right buddy and i also think no car can be bought on loan fully!