Proof Of Fund Question

[somak2001]

Hi All,

I have a fixed deposit for the last 4 months 15 days. Amounting to approx. 6000 CAD
I got this amount from somewhere and immediately opened an FD account.

Can this FD be submitted as a POF? Or do I need to give Gift Deed for this?

Thanks & Regards,
Somak

 

[dr feras]

Hi All,

I have a fixed deposit for the last 4 months 15 days. Amounting to approx. 6000 CAD
I got this amount from somewhere and immediately opened an FD account.

Can this FD be submitted as a POF? Or do I need to give Gift Deed for this?

Thanks & Regards,
Somak

You need to show the source of such an amount
Gift deed is acceptable

 

[somak2001]

You need to show the source of such an amount
Gift deed is acceptable

Thanks!

Now query#2

I have another account where I have saved 800 CAD - 1000 CAD every month in the last 6 months from my Salary.

At the end of every month, I opened an FD account from the savings. So, in total 6 FDs amounting to approx 5000 CAD.

Can I show this as POF? What should I show the source of such an amount?

Regards,
Somak Bala

 

[dr feras]

Thanks!

Now query#2

I have another account where I have saved 800 CAD - 1000 CAD every month in the last 6 months from my Salary.

At the end of every month, I opened an FD account from the savings. So, in total 6 FDs amounting to approx 5000 CAD.

Can I show this as POF? What should I show the source of such an amount?

Regards,
Somak Bala

Yes you can use that too.
Just 6 months statements of the salary account would be fine.
I used a gift deed for part of my funds, rest which was the bigger chunk i didnt need to explain anything about as I showed statements with active salaries and withdrawals going in. They only get suspicious with fresh accounts like the first one you mentioned that only has the FD without an obvious explanation of where did it come from.
Pretty straight forward.
Good luck

 

[somak2001]

Yes you can use that too.
Just 6 months statements of the salary account would be fine.
I used a gift deed for part of my funds, rest which was the bigger chunk i didnt need to explain anything about as I showed statements with active salaries and withdrawals going in. They only get suspicious with fresh accounts like the first one you mentioned that only has the FD without an obvious explanation of where did it come from.
Pretty straight forward.
Good luck

Thanks a ton!

Just repeating my 2nd case so that I am 100% sure.

I need to give 6 months statement & the 6 FD statements in the last 6 months. They will understand that my FDs are from my savings, right?

 

[dr feras]

Thanks a ton!

Just repeating my 2nd case so that I am 100% sure.

I need to give 6 months statement & the 6 FD statements in the last 6 months. They will understand that my FDs are from my savings, right?

My pleasure. Yes. I didnt have to explain, they just automatically understood, savings are related to your fixed deposits.

 

[infinix]

My pleasure. Yes. I didnt have to explain, they just automatically understood, savings are related to your fixed deposits.

@dr feras, I sent you a PM. Kindly respond to it.
Thanx

 

[dr feras]

@dr feras, I sent you a PM. Kindly respond to it.
Thanx

I'll have a look. I rarely check my inbox lol

 

[dr feras]

@dr feras, I sent you a PM. Kindly respond to it.
Thanx

Reply sent dear

 

[infinix]

Reply sent dear

Thanx. Really appreciate

 

[dr feras]

Thanx. Really appreciate

My pleasure and sorry about the delay

 

[infinix]

My pleasure and sorry about the delay

Haaaaa. Thanx for your opinion. Sent a reply though.