It may be difficult to obtain a home loan without an ITR as proof of income. ITR is the primary document used by banks and financial institutions to assess a borrower income and repayment capacity. However, for self-employed applicants, some lenders may consider other income proofs such as bank statements, salary slips, and business income proof. However, it is important to note that these alternatives may have higher interest rates and stricter eligibility requirements. As a result, having an ITR increases your chances of getting a home loan with favourable terms and conditions.
