Hi
I am have some queries about Fund will be grateful if someone clarify me
I have 2 accounts, 1.Salary Account from work and 2. Personal Savings Account.But I don't have enough money so my father is giving me the amount.
1. I am planning to show it as 'Gift' to me. So he has to get the money by cashing from "Saving Bonds". My question to Gift me the amount does he have to show proof where he is giving the money from?Do we need a 6 month statement from his account or just a statement from the bank that he had the "Saving Bond" for 6 month will do?
2.When the money will be transferred it will be given in 2-3 Transactions as large amount of money can't be deposited in one transactions,will it be an issue when he will notarize the gift deed the total amount once or do we need to do in separate deeds?
3.Also do I need to show all of my account statements and credit card bills statement too?
Thank you in advance for answering my queries.
Regards
Lifehack
I am have some queries about Fund will be grateful if someone clarify me
I have 2 accounts, 1.Salary Account from work and 2. Personal Savings Account.But I don't have enough money so my father is giving me the amount.
1. I am planning to show it as 'Gift' to me. So he has to get the money by cashing from "Saving Bonds". My question to Gift me the amount does he have to show proof where he is giving the money from?Do we need a 6 month statement from his account or just a statement from the bank that he had the "Saving Bond" for 6 month will do?
2.When the money will be transferred it will be given in 2-3 Transactions as large amount of money can't be deposited in one transactions,will it be an issue when he will notarize the gift deed the total amount once or do we need to do in separate deeds?
3.Also do I need to show all of my account statements and credit card bills statement too?
Thank you in advance for answering my queries.
Regards
Lifehack