Hi everyone
I have a question regarding PoF.
Firstly, I am employed for more than 2 yrs in US and I have a salaried account. For every month I transfer money to my parents in their joint account in India as for the family maintenance. As, I transfer all of my money to India, I currently don’t have the saving to show in my salaried account
For EE, I am planning to for a gift deed ( they will deposit money from their savings of 18k cad)from my parents which they will do wire transfer from India account to my US account.
Does this sounds like a good approach of gift deed? Or I might face any issues?
Please share your expertise on this?
Thanks
I have a question regarding PoF.
Firstly, I am employed for more than 2 yrs in US and I have a salaried account. For every month I transfer money to my parents in their joint account in India as for the family maintenance. As, I transfer all of my money to India, I currently don’t have the saving to show in my salaried account
For EE, I am planning to for a gift deed ( they will deposit money from their savings of 18k cad)from my parents which they will do wire transfer from India account to my US account.
Does this sounds like a good approach of gift deed? Or I might face any issues?
Please share your expertise on this?
Thanks