POF (slightly complicated cases)

[dhruvinho]

Hi,
My wife is the primary applicant and we just received the ITA. Her funds are below the required amount, and I would have shown my bank account statements/letter, but I have a joint account with my father. We are trying to figure out the best possible route:

Option 1. Me having a joint account with my father doesn't matter, and/or remove him from joint account, and give a declaration to my wife that she has full use of funds.

Option 2. Transfer money to my wife's account as a gift deed. In this case, will both my father and I have to fill the declaration? In this case, since my father is the joint account holder, is it okay for him to give a gift deed to his daughter-in-law?

Option 3. Get a gift deed from someone else, possibly my wife's father.

I prefer option 1 or 2. Experts, please help.

Thanks!

 

[FAIZAFAISAL]

Option 1 and 2 like u can remove the joint account holder name. Then transfer the amount to your wife account and give a gift deed letter clearly stating that it was ur savings and is gifting her for her use at all times without any problem

 

[cansha]

Option 1. You don't need gift deed if you are accompanying spouse.

 

[dhruvinho]

Option 1 and 2 like u can remove the joint account holder name. Then transfer the amount to your wife account and give a gift deed letter clearly stating that it was ur savings and is gifting her for her use at all times without any problem

Thanks! There won't be any issue with sudden removal of joint account holder, right? Also, I have a home loan in my account, will this be okay as well?