Query on Proof of Funds

[kiranprasath]

Hi Everyone,

I received the ITA today and have started preparing all the required documents. I have a query on the proof of funds statement.

I have arranged the required money and have kept in a savings bank account. I hope I would be able to get the letter from my bank. As per the requirement, last 6 months average balance is to be mentioned in the letter. My last 6 months average balance is not going to be 12500 CAD, where as my current balance is equivalent to 12500 CAD.

Could you please let me know if this would be an issue. Is yes, please advice me on mitigating this risk.

Thanks in advance,
Kiran

 

[THRISHI]

Hi Everyone,

I received the ITA today and have started preparing all the required documents. I have a query on the proof of funds statement.

I have arranged the required money and have kept in a savings bank account. I hope I would be able to get the letter from my bank. As per the requirement, last 6 months average balance is to be mentioned in the letter. My last 6 months average balance is not going to be 12500 CAD, where as my current balance is equivalent to 12500 CAD.

Could you please let me know if this would be an issue. Is yes, please advice me on mitigating this risk.

Thanks in advance,
Kiran

What i had given was six months statement and balance letter and nothing mentioning average. As long as there is no sudden inrush of money in your savings account, you should be fine. If there is, contributing to your 12500 total, you will need to explain the reason and source of that.
Additionally if you have Provident funds, FDs, bonds or something representing cash savings you can add that..

 

[kiranprasath]

What i had given was six months statement and balance letter and nothing mentioning average. As long as there is no sudden inrush of money in your savings account, you should be fine. If there is, contributing to your 12500 total, you will need to explain the reason and source of that.
Additionally if you have Provident funds, FDs, bonds or something representing cash savings you can add that..

Hi @THRISHI ,

Thanks for your response. Problem with my account is, there is a sudden inrush in the past month. That is because, I have got the money from my dad and got it transferred from his account. Will that be a problem? could you please help on this case.

 

[EE456]

You can get a gift deed from your father stating the amount transferred, you should also show proof of the transfer itself.

 

[THRISHI]

Hi @THRISHI ,

Thanks for your response. Problem with my account is, there is a sudden inrush in the past month. That is because, I have got the money from my dad and got it transferred from his account. Will that be a problem? could you please help on this case.

Yes, that will be seen as a temporary arrangement, even though from your father. Gift deed is only option I know.