We haven’t received ITA. Just want to be prepared for the future and plan accordingly.
In our EE application, I am the primary applicant and my husband is the secondary applicant.
My husband has a home loan in his name. We are trying to sell this house to meet the fund requirement. In case the house is not sold in time we are going to take a gift deed from my mom.
We have another home loan where both of our names are there, but my husband only pays the EMI.
So, my queries are-
1. If I take the money as a gift from my mom, do I need to declare the home loans? The money is going to get credited in my salary account and I will provide a notarized gift deed and LOE. Is this fine or I need to explicitly specify the home loans?
2. In case we sell the first house which is in my husband’s name, do we need to declare the second home loan? Also in that case what documents will I have to show to justify the surge in balance? Will the cheque from the buyer, sales deed, my husband’s bank statement for last 6 months from bank in bank letterhead and a notarized statement that I have full access to the fund will suffice?
In our EE application, I am the primary applicant and my husband is the secondary applicant.
My husband has a home loan in his name. We are trying to sell this house to meet the fund requirement. In case the house is not sold in time we are going to take a gift deed from my mom.
We have another home loan where both of our names are there, but my husband only pays the EMI.
So, my queries are-
1. If I take the money as a gift from my mom, do I need to declare the home loans? The money is going to get credited in my salary account and I will provide a notarized gift deed and LOE. Is this fine or I need to explicitly specify the home loans?
2. In case we sell the first house which is in my husband’s name, do we need to declare the second home loan? Also in that case what documents will I have to show to justify the surge in balance? Will the cheque from the buyer, sales deed, my husband’s bank statement for last 6 months from bank in bank letterhead and a notarized statement that I have full access to the fund will suffice?