Hello,
I am indian citizen living in USA over past 5 years. Can i show a gift deed from my dad who lives in india for 12 K CAD. Also, is there any chance of rejection if proof of funds is a gift deed rather than own mny ? And should it be shown for 6 months ?
I’ve heard gift deed should be OK as it’s your money and unlike a loan, you don’t owe it to anyone. CIC says it shouldn’t be borrowed. Gift deeds acceptable although not ideal.
I guess we can clearly write a letter that its gifted. Because it very difficult for an 27 year old to save 12 CAD dollars.
really… 12K CAD is equivalent to $9000 … if a 27 year old is working in US from five years then i think it is easy to save $9000… unless 27 year old had education loan or other expenses may be some very expensive girlfriend
haa. yes I had education here and have other expenses and loan to pay for. So thats the main reason I couldn’t save 10K.
I think a gift deed is an official document and has a specific format. Check that depending on where it is going to be issued.
@avj hi I have 75% funds in my account. I have only 2 weeks left, rest 25% (3 lac) i can get a gift deed from my father.
is it suffice?
or
To be safer, should i sell my property land worth 50 lacs and show it as my own funds?