Hi everyone! I had a query regarding transfer of money from Canada to India. What kind of account do you need in this case? And what are the taxes that the Indian government would charge me?
Money transfer to India
- Thread starter abhijitc88
- Start date
1. Standard checking account will work.
2. Depends on the nature of the transfer and whether you've already paid taxes on the money in Canada. In general, if you've already paid taxes on the money here and are transferring to your own account, you don't need to pay taxes again. However, international taxation can get complicated if your source of funds isn't clear, or you're transferring money to someone else.
Try opening a NRE account if you plan to send money on regular basis. You can do that online with banks like HDFC, ICICI...they are very good.
Once you have account open, Transferwise is one of the best websites to transfer money to india. Hope this helps
Just contact your Canada bank and ask for International wire transfer options. It usually takes 3 business days and you can do everything from your mobile bank app.