I will be shifting to Canada by end of August 23. I have around 60lac INR in my account back in India which I am planning to transfer in my Canadian account.
1. Do I need to pay tax on this amount in Canada (All taxes on this amount is already paid in India)
2. As per recent Union Budget 2023, 20% TCS is charged for Foreign Remittance. Is there any way to get away from this as both accounts are going to be on my name only.
3. What is the best way to transfer funds to my Canadian account.
1. Do I need to pay tax on this amount in Canada (All taxes on this amount is already paid in India)
2. As per recent Union Budget 2023, 20% TCS is charged for Foreign Remittance. Is there any way to get away from this as both accounts are going to be on my name only.
3. What is the best way to transfer funds to my Canadian account.