0.APGVB/BM/NRKD/ 1_/2022-23 = Date : 30.01.2023 The Regional Manager, Regional Office : Sanga Reddy. Dear Sir, STAFF HOUSING LOA COMME! ELIGIBILITY CALCULATION .P.S.CHAITANYA KUMAR, CHIEF M, With reference to the above subject, | submit that | have submitted my housing loan application for availing Housing loan under concessional and commercual for purchase of Plot and proposed construction. In this context, | have forwarded the KYC, Payslips, Form 16s along the proj Papers to RASMECCC, Ashok Nagar. nth In his connection, | submit that the existing housing loan principle and interest deductions under 80C and 24D were not submitted to HR due to which the Tax already deducted and yet to be deducted is huge i.e Rs.4,50,584.00 (which is an average of Rs.37,548 per month for an annual income of Rs.22,67,995). However, | submit that the eligible tax deduction for the FY 2021-22 after all the eligible deductions was Rs.2,09,657/- (which is an average of Rs.17,472 per month for an annual income of Rs.20,92,350/- ) Accordingly, there is a hike of Rs.1,75,645/- in the annual income for FY 2022-23 when compared to the previous year 2021-22 and hence considering the existing income tax slab at 30%, the proposed tax might increase by Rs.52,693/- so as to arrive at the total tax of Rs.2,62,350/- (Rs.209657+52693) (which is an average of Rs.21,862/- per month) Hence, | request you to rework the income tax as per the above calculation for arriving the loan eligibility. The loan eligibility catculation is enclosed herewith for your perusal oe __LOAN ELIGIBILITY CALCULATION — Particulars Method A Method B | Monthly Gross Salary as per payslip| | (January 2023) Excl NPS and PL| - — |161097.53 - 161097.53 | encashment) ae a | Statutory Deductions _ : : ae |Prof Tax cnageee 200 : 200 : | Tax (as per above calculs 21862 : 21862 : 'NPS (Employee contrib) i eo [idee ADD : Prop Rental Income 18000 | - 18000 : Net Monthly income = [14440653] - | 144406.53, CIBIL and other Obligations : : 55456 # acta Net Monthly income for arriving Loan} 14440653} - 88950.53 Scanned with CamScannerEligibiity/Limit 65.00% =| 93864.24[ - | $7817.84 CIBIL and other obligations Se = tg ML EMI fr Bas Lat oxo |. | aso |= Eligible limit for HL under Commercual @| 16.37 = 40.00 > 8.80% pa for 25 years (Rs.819 per Lakh) | Lakhs Lakhs s_per_Cir No.BUS/96/2021-22 di.22.02.2022, Pg No.06, “repayment appearing in| | CIBIL and regular deductions appearing in Bank Statements have to be reduced from Net Income while arriving the Loan Eligibility / Limit”. Accordingly the Limit is arri r Method B may be considered for arriving the Loan Limit. In addition to the above, | submit that the Existing Housing Loan obligations are considered for arriving the net monthly income. However, the income derived from the existing property which is under loan is Rs.12500/- per month which is not considered for the calculation as the same is not reflected in the ITR. As the above proposal is more than Rs.60.00 Lakhs which falls under the ROCC : discretion, | request you to provide the Loan amount eligibility under commercial terms so 4 as to proceed further as | have entered into an agreement of sale with the seller. Yoursyfaithfully 4 A a c lanager, a Narayankhed (8157), M:9490153748 Copy to : The Chief Manager, RASMECCC, Ashok Nagar. ' 7 Scanned with CamScanner