Assets Liabilities and Settelment fund.

[nep123]

Hi all,
I have a confusion here. I have some gold and stock (shares). Can I include them in assets? I don't have any liabilities/credits or payables. So mine liabilities should be zero.Will my assets = settlement fund = current value of gold+ current value of stock + bank balance?

Please help. It's urgent

 

[fuad1980]

Hi all,
I have a confusion here. I have some gold and stock (shares). Can I include them in assets? I don't have any liabilities/credits or payables. So mine liabilities should be zero.Will my assets = settlement fund = current value of gold+ current value of stock + bank balance?

Please help. It's urgent

Are you talking about Proof of Fund (POF)? If yes, as far as I know, you can only show your bank balance & current value of stock as POF. However, I am not sure about current value of gold.

 

[neel-here]

On a different note, are you holding the Gold in physical form or in ETF ? If you have Gold in ETF then you may include it in your demat statement and arrive at the current value of share holdings including e- Gold.

I'm not sure how CIC/ VO will accept the Valuation of physical Gold. If you're really short total available funds as per CIC norms (without including your Gold) then one option would be to sell the Gold in market, collect cash & show it as a Bank balance. Anyways, Gold price is falling so you can buy it at a later stage much cheaper & in Gold ETF's