Need some confirmation on POF from NDVO applicants :
1. For 3 people, how much amount (in INR) should be shown? - available on cic website it is one self and two dependents ie 3 in all
2. Can we include DEMAT statement? - Securities may not be accepted as the value is highly volatile and sometimes can go far below the current value. not advised
3. We recently booked an apt (20% paid), should it be shown? If yes, as asset as we already paid 20% or as liability given we are yet to pay 70%? - It is an asset but only upto the value of 20%. Another perspective is how much you will realize as on date could be the value, but it is definitely an asset, never a liability. More appropriate to call it commitment, although not correct accounting wise. You can avoid showing this as asset as it is not part of liquid cash. You can also show it in the asset column.
4. I think we can show tax saving fixed deposits as well, correct me if I am wrong - Little tricky as there is a lockin period of 3-7 years based on the instrument, you can neither borrow or take a loan on them. so not advisable.
5. Any implications if we show proofs for higher than requisite amount? - Definitely not as long as you can justify the source. Personally, i would only give requirement information, nothing more nothing less.
6. I have transferred some amount to my uncle (NEFT transaction) six months back and he returned the amount (Deposited as cash). How to show its our own earnings and not borrowings? Again, we dont need to explain all the transactions in our account. Avoid clues which would raise questions, else be prepared to answer.
Thank you.
happy to hear
