Hi My name is Muniraj,

Currently in UK on Work visa which is going to expire in end of 2017 and after that i will have to surely come back to India.

I am planning to buy house in Bangalore, basically individual house through Bank loan after coming to India. Please can you tell me?
Since i am UK tax payer and have not paid any TAX in India, I dont have form16 for the last 4 years, so will i be able to get loan in Indian Banks after coming to India? anyway i have filed tax until i was in India and same was filed with Income TAX.

If so what are the documents they would need? kindly list them here. Thanks in advance.
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  • Originally Posted by Muniraj789
    Hi My name is Muniraj,

    Currently in UK on Work visa which is going to expire in end of 2017 and after that i will have to surely come back to India.

    I am planning to buy house in Bangalore, basically individual house through Bank loan after coming to India. Please can you tell me?
    Since i am UK tax payer and have not paid any TAX in India, I dont have form16 for the last 4 years, so will i be able to get loan in Indian Banks after coming to India? anyway i have filed tax until i was in India and same was filed with Income TAX.

    If so what are the documents they would need? kindly list them here. Thanks in advance.


    paying no tax is different than paying 0 tax. ideally, you should have paid 0 tax since you did not have any taxable income in india. earlier they were pretty lenient about this, but now the IT dept has started getting stricter, but you can always file back taxes in case there is an issue. the amount of money even medium business hide from the IT dept. you are a very small fish in their eye and they will not waste too much time in what seems to be a genuine case of transfer to UK and back.

    indian pvt. sector banks will definitely provide you with a loan...not too sure about public sector banks. you can show them your UK salary and UK tax returns, along with deputation letter to show them that you were gainfully employed in this period and not loafing around here and there.

    lastly at periodic intervals, transfer your pound savings into liquid funds in india. if something were to happen like BREXIT, then the pound might get hammered and you will see that one fine day you have lost 20% of your savings in rupee terms. this is the thing you should be worried about rather than bank loans, icici hdfc will give it to you dont worry!
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  • Originally Posted by attestedcopy
    paying no tax is different than paying 0 tax. ideally, you should have paid 0 tax since you did not have any taxable income in india. earlier they were pretty lenient about this, but now the IT dept has started getting stricter, but you can always file back taxes in case there is an issue. the amount of money even medium business hide from the IT dept. you are a very small fish in their eye and they will not waste too much time in what seems to be a genuine case of transfer to UK and back.

    indian pvt. sector banks will definitely provide you with a loan...not too sure about public sector banks. you can show them your UK salary and UK tax returns, along with deputation letter to show them that you were gainfully employed in this period and not loafing around here and there.

    lastly at periodic intervals, transfer your pound savings into liquid funds in india. if something were to happen like BREXIT, then the pound might get hammered and you will see that one fine day you have lost 20% of your savings in rupee terms. this is the thing you should be worried about rather than bank loans, icici hdfc will give it to you dont worry!


    i hope you have read this message and got some time to transfer your pounds into rupees. the pound is going to get hammered in the coming few weeks
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