I just received an ITA and i am not sure of the funds which would be acceptable, please help from the below list if acceptable or not
1. Father opening FD in my name (around 5lakhs). Do i need gift deed?
2. Employee Provident fund (EPF)
3. Public Provident fund (PPF)
4. life insurance (LIC)
PLEASE let me know if i can arrange money by some other ways or alternatives to above. And which all affidavits would i need to show above? Thanks in advance. Looking forward to hear your responses.
I just received an ITA and i am not sure of the funds which would be acceptable, please help from the below list if acceptable or not
1. Father opening FD in my name (around 5lakhs). Do i need gift deed?
2. Employee Provident fund (EPF)
3. Public Provident fund (PPF)
4. life insurance (LIC)
PLEASE let me know if i can arrange money by some other ways or alternatives to above. And which all affidavits would i need to show above? Thanks in advance. Looking forward to hear your responses.
1. Yes you need gift deed
2. Some people in US have used 401(K) successfully so I don't see any reason why EPF won't be allowed. I think people have used EPF as POF successfully
3. Based on 2 .. 3 should also work
4. Not sure about this one.
