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TAX PAYER'S LIQUIDITY SCHEME
OVERDRAFT - TAX PAYER’S LIQUIDITY SCHEME (TPLS) | |
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PARAMETER | PARTICULARS |
Eligibility | Income Tax payer’s in business/ profession |
Purpose | Legally permitted productive/ personal purpose |
Nature of facility | Overdraft |
Quantum of Advance | 3 year’s total taxable income as per ITR of the applicant from all sources including agriculture. Maximum funding – Rs 100 lakhs. |
Tenure | The account should be renewed once in a year |
Proof of Income | Income Tax Returns acknowledged by IT department along with computation of income. |
Security | Mortgage of prime residential / house property |
Guarantee |
1. If the security property is owned by the applicant, then spouse of the applicant or any other person with substantial means 2. If the security property is owned by others – owner of the property. |
Documents Required |
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