Proof of fund (Recent Property bought)

[engr_m.umair]

Guys, I have a query! My father bought a property in August and I gave him my savings for a time being till he gets his due payments and at the end of September he returned my savings and now in October I received the ITA so do I need gift deed from him about the money or just LOE would be enough?

I can attach my Income tax returns showing the amount and can attach a 12-month statement showing I had the whole amount. The problem is my account got almost empty for a month or two in the end.

If anyone has any similar kind of experience please guide!

 

[engr_m.umair]

@legalfalcon Could you please guide?

 

[engr_m.umair]

anyone?

 

[engr_m.umair]

@legalfalcon please guide

 

[legalfalcon]

Guys, I have a query! My father bought a property in August and I gave him my savings for a time being till he gets his due payments and at the end of September he returned my savings and now in October I received the ITA so do I need gift deed from him about the money or just LOE would be enough?

I can attach my Income tax returns showing the amount and can attach a 12-month statement showing I had the whole amount. The problem is my account got almost empty for a month or two in the end.

If anyone has any similar kind of experience please guide!

You can go either way. If you explain in LoE, you will have to show the funds going out of your account to your father's and then returning. You will also have to show how long they were in your account before you transferred them.

Alternatively, just get a gift deed from your father, that will be. much easier way to go about it.