Wanted to share.
I had a word with the Canadian Authorities to be specific with 'Canada Revenue Agency, Income Tax Department'. + Same confirmed by CBSA as well.
And these are my findings.
For the left over money:-
1. You are allowed to bring as much money you can.
2. You don't need to pay taxes on the money which you haven't not earned on the Canadian soil (before you become PR).
3. But you need to pay the taxes on the interest earned on that money until you bring that money in Canada. (For example- If I had 10k$ left over money after the 1st landing, and if I wish to bring this money after 2 years, I need to pay taxes on the interest of this 10k$, which my banks give me as interest let say 30,000 INR. So on this 30,000 INR I am liable to pay taxes to Canadian government.
4. For the tax reduction at the end of the year, make sure you have all the records to back up your claims that this money has earned overseas before you became PR. For example your old bank statements etc...
5. Or If you are employed after becoming the PR and working outside Canada you become liable for taxes for the money remit into your Canadian account, if that money earned in some certain countries where they have tax treaty then it will be tax free, but subject matters.
For the left over land:-
1. You can dispose off your land in your home country and then bring the money, there is no time frame to do this.
2. You need to pay taxes on the Capital Income earned after selling your land. For example- I had land worth 1,00000 INR. After my initial landing after 2 years if I sell this land for 1,50000 INR. 50K more than I my original price, so this 50k becomes my Capital Income, and my this 50,000 becomes liable for taxes.
So bottom line no there is no hurry to take all of your hard earned savings at one go. You can delay as much you can. Only one the Capital Income we have to pay taxes, and need to back up the claims with proofs.
No need to declare in the GOODS TO FOLLOW LIST anything for the left over money and any sort of land or apartment on your name in your home country.
Hope this will be of some help to all.