Proof of Funds Query

[Rapheee]

Guys,

Can I show money in my Fixed Deposit as Proof of Funds ?

 

[Iampositive]

Guys,

Can I show money in my Fixed Deposit as Proof of Funds ?

Yes u can

 

[Iampositive]

But it should not be a five year tax saving fd

 

[Rapheee]

But it should not be a five year tax saving fd

what does it mean ?...Should it be in my account for five years from now or it shud be there already? sorry if my ques is silly

 

[Iampositive]

what does it mean ?...Should it be in my account for five years from now or it shud be there already? sorry if my ques is silly

I meant that, in India we have a option to invest in a 5 year tenure FD for tax saving. This fdr has a lock in period of 5 years.. CIC wants you to show liquid funds. So this category of fdr should be avoided

 

[Rapheee]

I meant that, in India we have a option to invest in a 5 year tenure FD for tax saving. This fdr has a lock in period of 5 years.. CIC wants you to show liquid funds. So this category of fdr should be avoided

Thanks a ton !!!