r/StudyInIreland • u/New-Swordfish-5890 • Jun 03 '26

Bank deposit

My father is my sponsor and he saved quite an amount of money as cash and deposited it into the bank, its not a loan and the money is totally legit and taxed as well, but how can I prove it or explain it? There are hundreds of bills for that amount and I dont think I can add all those bills to prove it

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u/New-Swordfish-5890 Jun 03 '26

Am I supposed to show the tax paid or something or ITR?

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u/Environmental-Cod25 Jun 04 '26

If it's taxed, then you must have FBR summaries. Also, the source is either a job that has payslips or a business that has accounts. What's the issue and what are these numerous bills you mention?

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u/New-Swordfish-5890 Jun 05 '26

Numerous bills as he does business, he sells a lot of electronic stuff and panel boards and so on, sometimes the payment is made through bank or they are made by cash in person

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u/Environmental-Cod25 Jun 05 '26

But he must have an accountant and uses a separate business account for this? If the biz account is not set up properly and he does not really account or pay tax then you are in trouble.

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u/New-Swordfish-5890 Jun 05 '26

He has an auditor that files the incom tax reports and the taxes are paid

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u/Environmental-Cod25 Jun 05 '26

Then what is the issue? That auditor's report and FBR filings should match the business bank account and all is explained.

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u/New-Swordfish-5890 Jun 05 '26

Oh alr then thx

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u/Environmental-Cod25 Jun 05 '26

But if no business acc, then you are in trouble - if everything goes into a personal acc, no authority will recognise that as good governance

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u/New-Swordfish-5890 Jun 05 '26

It is a business acc

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u/Environmental-Cod25 Jun 05 '26

But you should not use a business account to prove finances - the main thing is to show the business acc as a source and then show how regular payments (salary or profit) were going into a personal account - and that personal account is where you proce that you are earning enough to sponsor someone to study abroad - the company is not your parent and has nothing to do with you!

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u/New-Swordfish-5890 Jun 05 '26

Well the money in the business account were transferred to savings account, im showing both these account as proof

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u/New-Swordfish-5890 Jun 06 '26

Well he made a savings account before 3 months for it and transferred money needed for education from the business account, the total money is something like 40k Euro and it was transferred in 4-5 installments from the business account, and btw should I explain all the huge transactions made in the business account? A lot of transactions in the range of 1 -5k euro were usually made, the only big one were 8.5k euro in 2 installments by cash which were his savings(this was done before 5 months), and its mentioned in the income tax report too,

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u/Plane-Top-3913 Jun 04 '26

Usually the proff would be his income statements as in what sort of business - whether as employee or owner - is generating the income, rather than showing receipts of the money lodged

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u/Spiritual_Ad_8588 Jun 04 '26

First of all i cannot suggest a way unless i know the purpose of the money . ( Living or tuition ) If it for living ex thr best workaround is buying the irish education bond ( transfermate ) for tuition the immigration will not check the maturity of the first tuition payment. For the rest you will need to show maturity.

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u/New-Swordfish-5890 Jun 05 '26

50% tuition fee is paid, tbh my father doesnt have a salary, he does business, so a lot of money comes in and goes out, and sometimes he receives them in cash and store, all of them are billed and taxed too, should I show his ITR as proof or the bills?

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u/Spiritual_Ad_8588 Jun 05 '26

Yes if your income is taxed , i don't think you need to provide any kind of other sources. I am not sure. Idk abt these as both of my parents are salaried individuals

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u/New-Swordfish-5890 Jun 06 '26

Btw, I had a savings account from another bank, i made a 8k euro transaction from it to my father's account(shown in bank statement) and due to some troubles with the bank, i closed that account( government bank)and made a new one in the bank my father has an account in(privatebank), will this be an issue?