Tax Clearance Certificate not needed for Loans upto 2 Crores

March 4, 2020 | Investopaper

Nepal Rastra Bank has removed the necessity to submit the tax clearance certificate for the personal as well as medium business loans.

In the half-yearly assessment of the monetary policy, the central bank issued the directive. As instructed by NRB, for personal home loans and agriculture, tourism, and small/medium business loans ranging from Rs. 50 lakh to Rs. 2 crores, one can now submit the tax payment voucher.

This provision is likely to reduce the complication while applying for the new loan or the renewal of the loan.

For the person purchasing or building his/her first home, the BFIs will provide the loans upto 60 percent of the accumulated income during the period of repayment of full loans (including interest).



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