What is an Affidavit of Income: Meaning, Application Process and Documents

Many individuals frequently inquire, ‘What is an affidavit of income?’. This clear legal document functions as an official record of your monthly or annual earnings, particularly in cases where salary slips, tax returns, or formal income certificates are unavailable. The income affidavit is a valuable resource commonly utilised by self-employed persons, homemakers, day labourers, and others lacking access to conventional financial documentation. It provides an uncomplicated method to substantiate their financial status. 

When Do You Need an Affidavit of Income?

An affidavit of income is required in various formal scenarios where an external authority needs a verified declaration of an individual's financial status. [1]

• Scholarship or Educational Admission Applications: Many educational institutions require an affidavit to determine eligibility for fee concessions, reservations, or scholarships based on a student's or their family's financial status.
• Government Welfare Schemes: Income affidavits are often mandatory to avail various government welfare schemes, subsidies, or financial assistance programs that are provided based on income criteria.
• Court or Family Disputes: In legal matters such as divorce, child custody, or maintenance, the court requires a sworn income affidavit to support accurate financial settlement decisions.
• Tenancy Verification or Property Documentation: Landlords or property managers may request an income affidavit from self-employed tenants to verify their rental affordability and stability before drafting a lease agreement.
• Proof for Self-Employed Individuals: Individuals who do not receive a standard Form 16 or salary slips (e.g., freelancers, farmers, small business owners) often use this affidavit as a primary legal instrument to demonstrate their financial standing to banks or government bodies.

Documents Required for Income Affidavit

To create a valid affidavit of income, the affiant must compile a set of documents to prove their identity, address, and financial status. [1]

• The affiant must provide valid photo ID and current/permanent address proof, such as a passport, Aadhaar card, Voter ID, or PAN card.
• Income-Related Documents, including previous bank statements (for six months), Income Tax Returns (ITR), or any documents proving business continuity (for self-employed individuals).
• Recent passport-size photographs of the affiant, which are affixed to the affidavit form.
• Non-judicial stamp paper of the appropriate value, as mandated by the state government where the affidavit is being executed.

How to Create an Income Affidavit Online?

The process of creating a proof of income affidavit has been streamlined through digital platforms. [1]

• Step 1: Research and visit a verified online legal documentation portal that specializes in affidavit services.
• Step 2: Select the appropriate template and begin filling out the online form with your personal details, including your full name, your father's name, and your address.
• Step 3: Provide the exact figure of your average monthly or annual income, including all sources of earnings.
• Step 4: Upload digital copies of your required ID proofs and any available financial documents (like ITRs or bank statements) for verification.
• Step 5: The service will coordinate the printing of the affidavit onto the correct value of e-affidavit and manage the entire notary attestation process for legal validation.

Difference Between Income Affidavit and Income Certificate

While both documents relate to financial standing, they differ fundamentally in terms of origin and legal weight.

Format of Affidavit of Income

(To be typed on Non-Judicial Stamp Paper as per state requirements)

I, ________________________, aged ____ years, son/daughter/wife of ________________________, residing at ____________________________________________, do hereby solemnly affirm and declare as under:

1. Personal Details

• Name: ____________________________________
• Father’s/Mother’s/Spouse’s Name: ____________________________________
• Address: ____________________________________
• Occupation: ____________________________________

2. Income Declaration

I state that my total annual income from all sources for the financial year __________ is ₹________________ (Rupees ______________________ only).

3. Sources of Income

My income is earned from the following sources:

1. Salary / Business / Agriculture / Pension / Other: __________________________
2. Additional Sources (if any): _____________________________________________

4. No Other Income

I further affirm that I do not have any additional income apart from what is stated above.

5. Purpose of Affidavit

This affidavit is being submitted for the purpose of:
( ✔ ) Scholarship
( ✔ ) School/College Admission
( ✔ ) Loan Application
( ✔ ) Government Scheme
( ✔ ) Other: _______________________________

6. Declaration

I declare that the information furnished above is true and correct to the best of my knowledge and belief, and I understand that providing false information may lead to legal consequences under applicable laws.

Verification

I, ________________________, do hereby verify that the contents of this affidavit are true and correct. Nothing material has been concealed, and no part is false.

Verified at _____________ on this ___ day of _______, 20

Signature of Deponent: ________________________
Name: ________________________

(To be attested by Notary/Public Oath Commissioner)

How NoBroker Can Help You Make an Affidavit of Income?

Creating an income affidavit might feel overwhelming at first, especially if you're unsure about the right format or documents needed. But don't worry NoBroker is here to make the process much easier by helping you prepare and notarize your income affidavit online with ease. Their friendly and approachable team provides clear templates, guides you step-by-step, and ensures your document is legally sound. Thanks to NoBroker’s digital support, you can have your income affidavit ready quickly, safely, and conveniently making the whole experience stress-free and smooth.