When applying for a loan, whether it is a personal loan or a business loan, financial institutions need to evaluate the borrower's repayment ability.

Secondly, when applying for a credit card, the bank needs to verify the applicant's financial status to ensure that the applicant has sufficient repayment ability. Therefore, applicants need to provide proof of income to prove their income level, which can help obtain a higher credit limit or more favorable credit card terms.

In addition, when applying for a visa or immigration, some countries or regions require applicants to provide proof of income to prove that they have sufficient financial ability to live abroad and pay related expenses. This helps ensure that the applicant does not become a financial burden to the receiving country and assists in obtaining visa or immigration approval.

In addition, when renting or buying a house, landlords or developers often require tenants or home buyers to provide proof of income to assess their ability to pay rent or mortgage payments. This helps ensure that the tenant or home buyer can make relevant payments on time and maintain the stability of the rental or home purchase relationship.

Finally, when handling some business that requires proof of personal financial status, such as providing provident fund withdrawals, social security supplementary payments, etc., you also need to provide proof of income. These businesses usually involve personal rights and financial interests, so proof of income is required to prove the individual's financial status.

In summary:

Proof of income is necessary when applying for a loan, applying for a credit card, applying for a visa or immigration, renting or buying a house, and handling other businesses that require proof of personal financial status. of. In these situations, providing proof of income can help evaluate an individual's repayment ability, financial status, and ability to pay, thereby helping to obtain corresponding services or rights.

Legal basis:

"Law of the People's Republic of China on Commercial Banks"

Article 35:

Commercial bank loans shall strictly examine the borrower's purpose of borrowing, repayment ability, repayment method, etc. Commercial bank loans should implement a system of separation of review and loan and hierarchical review and approval.

"The People's Republic of China and the Civil Code"

Article 111 stipulates:

The personal information of natural persons is protected by law. Any organization or individual that needs to obtain other people's personal information must obtain it in accordance with the law and ensure the security of the information. It must not illegally collect, use, process, or transmit other people's personal information, and must not illegally buy, sell, provide, or disclose other people's personal information. As part of personal information, proof of income should ensure legal compliance and protect personal privacy when provided.