Hi, can the amount of gift deed be deposited via ATM and ATM receipt provided as a proof of funds transfer?
What if the funds were transferred into the account less than 6months?Yes if it is from your own account and in addition get written from bank that they can be liquidated anytime.
1. It won’t workGuys!
I may have overlooked this but I’m thinking of asking my aunt to provide me a “gift deed” and transferring money to my account in India. I am in the US and have some stocks that I can sell. I wasn’t aware of maintaining a six month balance so I’m scrambling to get the funds in place. I’ve already received my ITA. My questions are:
1. Is it ok to take money/gift deed from my aunt? Does she need to provide her bank statements?
2. What if I ask her to transfer money to my mom’s account and my mom can then write me a gift deed. Would that be better? But then, do I also need to show my mom’s bank statements?
3. Is it ok to show some funds in two accounts? Some amount in Indian account (on my name) and rest in my USA accounts.
Thanks for your help!
1. It won’t work
2. Aunt transfer to mom, then mom transfer to u, get gift deed from mom, mom’s bank statement won’t be required
For such new funds FD is advised, however some people also show in saving
3. Ok
No idea on thisHi Priya,
Thanks for your response. You think it’s better if she creates an FD in my name?