I have a query regarding the funds
My scenario.
I have an amount X in bankacc a which is on my name for 6 months.I am the primary applicant. I opened the joined account with my spouse in bank B and I transferred the same amount to our joint account 2 month back. So my amount X is in bank A for 6 months and in bank B for like 3 months now.
The remain amount will be transferred to bank B as a gift deed.
My question is will this be accepted
1)if I get a letter from both the banks telling the amount and number of months it was in the respective account
2) Transfer the amount in the bank to my dads account and get the full amount i.e $160000 as a gift deed cheque.
3)is it compulsory that the amount should be in joint account for 6 months.!?
Thanks
My scenario.
I have an amount X in bankacc a which is on my name for 6 months.I am the primary applicant. I opened the joined account with my spouse in bank B and I transferred the same amount to our joint account 2 month back. So my amount X is in bank A for 6 months and in bank B for like 3 months now.
The remain amount will be transferred to bank B as a gift deed.
My question is will this be accepted
1)if I get a letter from both the banks telling the amount and number of months it was in the respective account
2) Transfer the amount in the bank to my dads account and get the full amount i.e $160000 as a gift deed cheque.
3)is it compulsory that the amount should be in joint account for 6 months.!?
Thanks