Dear Forum Members,
I have gone through the previous posts, and there are a few things that I am still unclear about. Would be most thankful if experienced forum members could clarify. I have an ITA and need to submit documents by Mid June.
1. Is EPF ( Employee provident fund )admissible as POF ?
2. Is PPF admissible as POF ?
3. I have a home loan running with SBI ( outstanding amount INR 10 Lacs ) while the purchase price for the property was INR 35 Lacs. The fact that the loan is a secured one, and the bank holds a mortgage on the property - Do i need to declare this liability in my POF ? If yes, can I declare the property as an asset ? I read somewhere on the forum that CIC wishes to ascertain if any loan has been taken with the purpose of generating funds for Canada Immigration, which is not the case here. My salary account shows EMIs towards this loans - so would it be prudent to not show it ? Also, Do i need to furnish any kind of valuation report to establish the value of the property ?
4. Regarding the 6 months rule - I have some FDs which were created in the last 2 months only, but thats by way of salary / bonus arriving. Wouldnt they count ?
Regards
I have gone through the previous posts, and there are a few things that I am still unclear about. Would be most thankful if experienced forum members could clarify. I have an ITA and need to submit documents by Mid June.
1. Is EPF ( Employee provident fund )admissible as POF ?
2. Is PPF admissible as POF ?
3. I have a home loan running with SBI ( outstanding amount INR 10 Lacs ) while the purchase price for the property was INR 35 Lacs. The fact that the loan is a secured one, and the bank holds a mortgage on the property - Do i need to declare this liability in my POF ? If yes, can I declare the property as an asset ? I read somewhere on the forum that CIC wishes to ascertain if any loan has been taken with the purpose of generating funds for Canada Immigration, which is not the case here. My salary account shows EMIs towards this loans - so would it be prudent to not show it ? Also, Do i need to furnish any kind of valuation report to establish the value of the property ?
4. Regarding the 6 months rule - I have some FDs which were created in the last 2 months only, but thats by way of salary / bonus arriving. Wouldnt they count ?
Regards