TAX on CURRENCY

[ragz306]

hey can anyone tell me that if i take CAD $ 2700 along with me..i hv heard that i hav to pay some tax..is it true??
or just a rumour

 

[Rupak14]

hey can anyone tell me that if i take CAD $ 2700 along with me..i hv heard that i hav to pay some tax..is it true??
or just a rumour

I guess No, not true if you're taking less than CAD $10,000 with you.

 

[PMM]

HI

I guess No, not true if you're taking less than CAD $10,000 with you.

There is no tax on any currency amounts, you just have to report it to CBSA on entry if you have over $10K.

 

[ad singh]

at what rate have you guys bought the cad... ? Ragz .. And others ..please answer..

 

[ragz306]

at what rate have you guys bought the cad... ? Ragz .. And others ..please answer..

yaar maine to mehnge liye.... 51.65 pe liye

 

[ad singh]

yaar maine to mehnge liye.... 51.65 pe liye

buddy.. the rate i saw on net is 51.20 .. so you got good deal . SINCE THE RATE SHOWN ON NET IS AVERAGE RATE WHEREAS WE GET DOLLARS ON THE SELLING Rate of the bank or intermediary.

in your case , the profit/ margin of the intermediary was 0.45 (51.65 -51.20) per dollar which seems to be reasonable.

but if we see overall, the rupee has depreciated in a huge manner.. it is all time low which is hurting importers and students like us.. the dollar was around 45 , 48 some time back and now it is about 52...

 

[ragz306]

When i payed my fees for my admission in the college i sent at Rs 48.3/- per $
But within time gap of just 2-3 months it has moved up by Rs 4.

I purchased currency from Thomas Cook and i bought it in all the three forms that is:-

1. Currency Notes
2. Traveller's Cheque
3. Traveller's Card

 

[ad singh]

When i payed my fees for my admission in the college i sent at Rs 48.3/- per $
But within time gap of just 2-3 months it has moved up by Rs 4.

I purchased currency from Thomas Cook and i bought it in all the three forms that is:-

1. Currency Notes
2. Traveller's Cheque
3. Traveller's Card

thanks for info ..ragz

 

[Habil]

You have to pay taxes to who,what for and why-You have already suffered the infaltion rate when exchanging the currency.

If there is a policy on that i would wish to know