What to do when gift is made in installments ?

[MAKabir]

I need help figuring out if I need separate gift deeds for gifts given by my father is 5 different installment over a 6 month period. Please help.

 

[Maverick28]

I need help figuring out if I need separate gift deeds for gifts given by my father is 5 different installment over a 6 month period. Please help.

No, just mention all the transactions in one gift deed.

 

[heymanthkumar]

No, just mention all the transactions in one gift deed.

If we are using gift deed as Proof of funds, should we mantain the amount for 6 months in our bank account before we send it to IRCC ?

 

[MAKabir]

No, just mention all the transactions in one gift deed.

Thank you.

 

[MAKabir]

If we are using gift deed as Proof of funds, should we mantain the amount for 6 months in our bank account before we send it to IRCC ?

Is the gift deed is signed and notarized it doesn't need to be there for 6 months.

 

[viki1805]

If we are using gift deed as Proof of funds, should we mantain the amount for 6 months in our bank account before we send it to IRCC ?

it doesn't matter if the amount has been in your account for 6 months or 6 years specially when you're showing it as a gift deed. As long as you're able to prove that those funds are yours and are available to you, that is sufficient.

 

[heymanthkumar]

it doesn't matter if the amount has been in your account for 6 months or 6 years specially when you're showing it as a gift deed. As long as you're able to prove that those funds are yours and are available to you, that is sufficient.

Thank you viki1805 and MAKabir

 

[MAKabir]

Does anyone know if there is any special format for gift deed if gifts are made in installments ?