A complete way to nail 'Source of fund' dilemma!

[Jaiyesh]

No the average was not included. I showed the Current balance and attached last 7 months statement

 

[Jaywalker]

No the average was not included. I showed the Current balance and attached last 7 months statement

Ok- How much was the average balance over last 6 months?

 

[Mayukh Athmaram]

Hi,

"IRCC stipulates that the funds cannot be borrowed from another person and the applicant will be asked to explain any large, lump sum transfers into an account."

Is 680 CAD a large, lump sum transfer???

Is there any one where the CIC reviewer reject/refuse the application seeing that a small amount (680CAD in my case) was coming from a 'friend'?

What is the MINIMUM amount that the CIC reviewer will look at?? In my case, I have 21000 CAD in my account, (which is more than the amount stated by CIC for a couple = 15600 CAD)... but unfortunately my friend transferred 680 CAD last month --- What do i do?? should I explain this transaction in my LOE saying that my friend gave it to me

as a gift OR shall i not explain it at all?? It was actually the return of a house

rental agreement deposit for which i have no contract as proof

Any response/help is much appreciated!

 

[KDRoy]

GIFT DEED
I, _________________ (name of donor), S/o _________________ (father’s name), R/o _____________________ (address), do hereby on dated __________ make a gift-deed for a gift made on dated of ___________, Rs. ______/- (Rupees in word) out of love and affection to my ____________ (mention the relationship & name of receiver), S/o or W/o _______________, R/o _________________________. I confirm that I am a resident Indian. I, further confirm that this gift is being made out of my own funds standing to the credit of my A/c No.- __________ in
____________(mention the Bank name & address).
I, further confirm that the consideration for this gift is the love and affection for my ____________________ (mention the relationship & name of receiver) and no other consideration.
I am an Income Tax assessee having PAN/GIR # A-984 / N and assessed with Income Tax ward 1, Noida and this gift is made out of my past savings from profession in India. Strictly Confidential 2 P A R Y & Co.
I further confirm that the gift has been made by Cheque No ___________ dated _______ drawn on ___________________________ (mention the Bank name & address). This gift is irrevocable and I have no claim left whatsoever on the said gifted amount and he/she is free to utilise it in any manner.

PLACE:
DATED: _______________________
(Donor name)


Witness:
The gift as stated above is accepted




______________________
(Name of receiver)

Hi Anuj,
Your replies help a lot people here. I am getting a gift deed by my father and an affidavit , as the maximum money was transferred from our joint account to my single holding account for ease of explanation , even though the money was mine only.
My question is the joint account 6 months statement required here too? I mean I am giving my single account statement already as that's the account I am showing for the POF after the gifting?

A quick reply will really be highly appreciated.

Thanks.

 

[KDRoy]

Why not include a daily transaction (atleast) in your bank account .... random debit-credit (few hundred bucks). This way you would have close to 50 transactions for the period from now till your submission date. Use your 3-4 cheques, do few online shopping ... This way you will have some transactions in the statement to show and it would prove to the VO that the account is perfectly normal after the dormancy was revoked...
Making sense? All the best..

hi Anuj,
Is there a specific format for LOE explaining this gift deed thing as POF? If yes, kindly provide the same.

thanks in advance,
K D Roy

 

[keresifon]

I have a peculiar situation. I did business with my brother who is a permanent resident over the years which yielded returns . How can I declare these funds for the POF? I have wire transfer emails and paypal receipts as proof of transfer. Since the money is already in Canada , I don't want to go through the trouble of wire transfers back and forth should I get my ITA.

Also my wife is the principal applicant.

Anyone with insight on how I should go about this ?

Thanks

 

[Nayansatsangi]

Hello . Can I provide online FD receipts in POF?

 

[Yumna]

Hi guys,
Need some help, For OINP

1) For POF, my salary sometimes get delayed by one or two months but then it get transferred altogether.
Will it be a problem? what can be done in this case, although the balance has always been above the minimum CAD required.
No paylsips
2) Also for bank letter Do i have to show all my accounts for different banks or one is enough which has the funds?

 

[dayocanny]

How did it go for you? Did CIC accept gift from a sibling? Or only a parent can gift?Which documents you submitted? I'm also taking a gift from my sister.

I got a gift deed from my sister. No issues at all