Hi,
I have some questions regarding proof of funds (Family of 3 including 1 dependant):
Primary Applicant: 6 Lakhs (Gift Deed)
Secondary Applicant: 7 Lakhs (3 Lakhs in contention; refer question 2)
1. Is gift deed accepted? If yes, is it risky? Any instances of rejection only because of this?
2. My wife's LIC money was sent to her Corporation bank account. After the bank was shut, the amount was transferred to her dad's account. Can this be transferred back to her and not be treated as a gift? We have all the necessary documents (LIC policy copy and Corporation Bank statement all in her name)
3. Is ULIP considered a liquid instrument if the concerned bank gives a statement that the money can be withdrawn any time?
I would appreciate your help, thanks.
I have some questions regarding proof of funds (Family of 3 including 1 dependant):
Primary Applicant: 6 Lakhs (Gift Deed)
Secondary Applicant: 7 Lakhs (3 Lakhs in contention; refer question 2)
1. Is gift deed accepted? If yes, is it risky? Any instances of rejection only because of this?
2. My wife's LIC money was sent to her Corporation bank account. After the bank was shut, the amount was transferred to her dad's account. Can this be transferred back to her and not be treated as a gift? We have all the necessary documents (LIC policy copy and Corporation Bank statement all in her name)
3. Is ULIP considered a liquid instrument if the concerned bank gives a statement that the money can be withdrawn any time?
I would appreciate your help, thanks.