Assets in Schedule 3 Economic Classes

[navpreet1982]

Hello Guys,

Can we show Public Provident Fund(PPF) and National Saving Certificates(NSC) as Assets? If yes, then do we need to attach proofs of assets with appllication.

Thanks in advance

 

[WhiteLion85]

Assets are those things in forms of cash, goods or bonds which can be transferred to cash when needed.

You don't need to attach evidence of your assets with the application. You need only to attach the proof of funds.

 

[navpreet1982]

Can anyone from India reply to my question, as I think they have better understanding of PPF and NSC. They are as good as cash but they have certain lockin period.

 

[future_canadian]

Assets are those things in forms of cash, goods or bonds which can be transferred to cash when needed.

You don't need to attach evidence of your assets with the application. You need only to attach the proof of funds.

Not true. Assets are any thing of value. Savings and provident funds are certainly assets and may also count as settlement funds if they are liquid and unencumbered.

 

[navpreet1982]

Not true. Assets are any thing of value. Savings and provident funds are certainly assets and may also count as settlement funds if they are liquid and unencumbered.

I am kind of agree with you. They have lock-in period so cannot be shown as settlement funds however they should be counted in assets.

That would be great if any other senior member can also share his thoughts/experience about showing amount in PPF as Asset.

 

[navpreet1982]

anyone else have a suggestion if PPF could be shown as assets?