money trasfers from India to Canada

[swamik]

Dear All,

If I wanted to transfer money of Rs 30000 (roughly 600 CAD) from india to Canada every month, what will be the tax impact, this money is through some rent I receive on the property I hold in India..Will I have to pay tax in India or In canada ? and if it is in Canada than how much ? IF there are any links which can explain me on this, please do share.

Swami

 

[steaky]

It will depend on the tax treaty between India and Canada.

Generally, you file your annually Canadian tax return and declare your rental income in India. Revenue Canada then would assess how much tax you need to pay.

I can't find any links which can explain this but you can always phone Revenue Canada for verifications.

 

[explorer101]

If I wanted to transfer money of Rs 30000 (roughly 600 CAD) from india to Canada every month, what will be the tax impact,
>> You will be taxable in India as well as in Canada ( Canada calculates world income ).

if it is in Canada than how much ?
>>> The income would be added to your Canadian Income for tax purposes. Much much depends on your tax slab.
http://www.cra-arc.gc.ca/tx/ndvdls/fq/txrts-eng.html