Assets Liabilities and Settlement fund

[johnINDIA]

Friends ,

So in the form there are 3 columns Assets Liabilities and Settlement fund .

Can i fillin as below :

Assets = $0
Liabilities = $0
Settlement Funds = $11,824

Is this okie to do it this way ?

Thanks much

 

[luqi]

you should write in assets the amount you have in bank then liabilities=0 and settlement funds again the same amount

 

[future_canadian]

Friends ,

So in the form there are 3 columns Assets Liabilities and Settlement fund .

Can i fillin as below :

Assets = $0
Liabilities = $0
Settlement Funds = $11,824

Is this okie to do it this way ?

Thanks much

That is certainly incorrect. For one thing if you have $11,824 of settlement funds then you have at least $11,824 in assets, and I'm guessing you have more.

Also, I am guessing you do not have EXACTLY the same number of dollars as CIC requires in settlement funds. You should write the actual amount of funds you have available for settlement.

If you have any liabilities, you must also list those.

Etc.

 

[johnINDIA]

Thank you , so Assets = Settlement funds , right.

I was just confused , i thought Assets = like property , etc
Settlement funds = the CIC $ amount .

Wishing everyone the very best.

 

[buzoo]

Dear all,
I am the single applicant for PR and hence need to show $ 11,824 as settlement funds
My total assets are as follows:
1. Fixed Deposits= 7 lakh 10 thousand rupees= 12832 CAD (1 cad==55.33 INR as of today)
2. Public Provident Fund= 83830 rupees= 1515 CAD
3. Mutual Funds= 70,000 rupees= 1265 CAD
Total Assets= 15612 CAD

My liabilities= NIL

My total settlement funds= Fixed Deposits= 7 lakh 10 thousand rupees= 12832 CAD ( from my assets itself)

Is this correct response to Question 11 of IIM 0008 -Schedule 3?
My doubt is that can i include PPF and Mutual fund as my total assets?
Or
I should write
Assets= Fixed Deposits= 7 lakh 10 thousand rupees= 12832 CAD
Liability = NIL
Settlement Funds= Assets= 12832
Please someone clarify!