Interesting EC situation

Hi Guys,

I am applying for EC from Mumbai in next week. I have a single salary account. During my claim period I had rented a 2 bhk flat in India for 6 months. For this monthly rent was 9,000 INR and deposit was 50,000 INR. Hence my bank statements show 9,000 INR being deducted for 6 months. Also my bank statements show 50,000INR being removed by was of DD and again redeposited by way of DD AFTER 6 months.

I am having the original Lease and License rent agreement I entered into with house owner. For each month out of those 6 months, the rent deductions from the account was after the full salary amount was deposited into my account. In 12 months of claim period, the salary amount in Payslip matches EXACTLY with entry of salary deposit on the bank statement.

Now question is, For EC should I explain this in the cover letter to clarify this transaction? ie. 50,000INR removal and redeposited? And 9,000INR deducted for 6 months.

If do not mention any of this at all then will it raise suspicion and cause rejection?

If I should explain, then I only have the Lease and License rent agreement that I can submit as proof. What other proof can I submit?

Thanks guys. Experienced guys and moderators please help.

-Andy

Hi,

They really dont check for such transction. If amount is more than 100000 INR in bank transction and some huge recent transction then you need to give justification.

Thanks

Gaurav

I dont think this should be cause of concern as they only check for sudden deposits of huge amounts.

Hi aruni4470,

What is the period of trasactions will they check, i mean if iam going for EC in the month of Feb-08 will they check statement from Feb-07 to Feb-08. What if i have deposited amount in Fixed Deposits in a bank other than my salaried account bank recently.

They will check all the bank statements you give them. You will give them atleast one year's bank statements. the amount should have been accumulated gradually.

You can show fixed deposits in other bank accounts as well. Just get a CA statement prepared including all the savings, fixed deposits, etc etc

what do you mean by saying "amount should be accumulated gradually" . They willn't consider the amount deposited recently(say 1 or 2 months prior to attending for EC)?

Can i show the amount in Insurance with ULIP like ICICI prulife,Aviva(it's said some where that LIC savings will not be considered) but this is not purely an insurance but insurance which is ULIP, i hope u have understood.

Also please respond to the query posted on same forum "Can i show Fixed Deposit, ULIP as bank balance" (ignore second point)

"accumulated gradually" I meant that there should not be any sudden deposits of huge amounts. If you want to show some amount as your balance, do not deposite the whole amount on a single day. Rather you can split the amount and deposit over a period of time.

Yes you can show fixed deposits as funds.

You can also show ULIPS as funds (as far as i reckon), please get this clarified by others. Seniors ur advise on this????/

Hi Friends,

I'm planning to apply for EC in mid of March 2008.right now i'm not having amount in my salary account.Hence,my father is going to deposit some thing around 2.6 lacs to my account through some 7 to 8 cheques...
so i will be maintaining the balance for about close to 3 months...while applying for EC,i will get a letter from my father stating that he gifted the amount to me for the purpose of my UK expenses...

my queries:
1)whether 2.6 lac for abt 3 months period is enough to satisfy the visa officer???
2)since my father is depositing the amount through cheques,it's a sudden flow of money in my account,so whether the letter from my father is sufficient to satisfy the visa officer???

Please throw some light on this....expecting your reply...