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Sell Property with Aadhar Card being required

Smiley: Great link .. Thanks
Many: 20% plus some small cess.
Smiley: Do you know what the TDS rate is for an NRI ?
Many: It helps to have a real-estate agent to execute a sell-buy transaction. He takes care of all required formalities for a consideration of course(commission). Yes there is TDS for an NRI (Mumbai experience)
Smiley: Thanks for your Info I need to sell and not buy ...
Full House: Here is what I heard today. So, please verify the same as soon as you can. Reason is.: That the Real estate Transaction is an illquid asset with low yields and high cost of sales transaction. It is not so easy to find a buyer.

RRSP after returning to India

Full House: It is always a privilege to be of service to you. Hope it helps you a little bit. Now taking into account that the interest that you pay there for Principal borrowed, you will do better by just taking
goingbacksoon: I am a Canadian with OCI status. I will be leaving for good in a few years. I will be returning in my 40s so I assume the age related deductions you referred to won't apply. I expect I will need to withdraw my RRSP amount (could be close to 75K) within an year of arrival to buy a property.
Full House: I know that you are an NRI. Are you a Canadian Citizen with an OCI Card? Are you leaving Canada for Good or just moving out for Six/Seven months of the year like the SNOWBIRDS do. Knowing that you are
goingbacksoon: Thanks for your advice. I also looked at the avenue of finding an accountant, who deals with such things but an hour of google search didn't lead me anywhere. I think it confirms your statement that it

All we need to know about NRE / NRO Account

Full House: We all get hammered now and then..: Here is a Bolt from the Blue (Or is it from the Blacks?) "LONG TERM CAPITAL GAINS EXCEEDING RS 1 LAKH WILL BE TAXED AT 10% WITHOUT INDEXING " Read more
ChandraGupt: LINK in my case I have few Fixed Deposits(in rupees) & planning to sell my Mutual funds in India(in rupees) so can't convert ordinary account to NRE , only option is
MITRON: If you are sending money from Canada to India in CAD $ i.e foreign exchange coming in from abroad, NRE is better. On NRE there No tax, No TDS, No need to file a return to get TDS back with Indian IT,
ChandraGupt: I think NRO account is better for OCI card holders like me (as per my situations)..

AdharCARD - OCI- MutualFund in INDIA

ChandraGupt: those OCI card holders without AdharCard still have Mutual funds in india-its time to sell MF as 31st march2018 is last date to link adhar & save Capital gain tax LINK क्या
MITRON: Its just an automated email, which they keep sending, so ignore it.
ChandraGupt: CAMS- Mutual Funds service-keep sending such emails to all customers-I received 4th time I guess. - Dear Investor, As per Prevention of Money-Laundering (Maintenance of Records) Second Amendment
Full House: Quoting of Aadhaar is now mandatory for performing many important tasks. *"Are you aware that you can also receive a copy of your Aadhaar card in digital form?" You can use the digital Aadhaar


Latest Replies

Accountant/CPA in Mississauga for personal tax return

Fido: Chandrasen Bhambhani .. Very impressed with him ..in the area of Hurontario /Eglinton.
MeagainMe: Thanks a lot Full House. Appreciate your input
Full House: I have met some of these people on DESI board, in person. We do have our own Mr.Pramod Chopra here on this board, who has been helping a lot of Desies with his knowledge and input and being that time of he year could be extremely busy with Mortgages etc., and I would urge you to google and find
MeagainMe: Hi, Can someone please suggest a good accountant/CPA in Mississauga who can help with personal tax return and is familiar with Indian pension income/Non-resident accounts/Tax treaty between India and Canada. Thanks

What's going on in the GTA Real Estate?

Full House: The renewed decline in house prices in February suggests that the housing market is in a price correction, as quoted by The Huffington Post. Tougher mortgage rules and recent increases in interest rates have negatively impacted home sales and this will continue to depress prices. . It looks to me that there is an expectation of an income from the rental of a property, when one buys and then rents it out.
Delhite: In March this year, the number of home sales down 40% as compared to last year. The average home price in GTA also down 14% as compared to last year. After a long time, I have seen a reduction of over 100k for inventory clearance by a builder at 410/Bovaird Drive but the original prices were too high, over 1.2m. At least, there is no more multiple offers bid war.
febpreet: Hey, Just wanted to ask as I am curious. What's the current situation with the GTA Real Estate? The News mentions about the depleting sales in the detached SFH. Have you guys noticed any slump in prices as well, or is it minuscule? I was checking Realtor.ca and found quite a good number of homes in the $600-700k range, while there was none whatsoever last year during the same months.

Tax related query - Please suggest

Many: if you bring the money In and transfer back you will have Exchange losses, not worth it. Regarding CRA coming after you; read Mitron replies between the lines; they will not bother you.
sumjo: The returns sounds good, but in reality tax is deducted at source in the NRO acc (which I think is around 30%). Besides, they are offering only around 7% now-a-days. Better to bring the money to Canada and then send it back to the NRE acc where there is no TDS from the Indian IT deptt. on the interest
MITRON: Keep the money in India at 8 - 9 % in 10-15 Fixed Deposits. Then slowly bring the money into Canada one at a time at below $ 10,000. No questions will be asked. No need to give all the above documents either. No need to bring it ALL in ONE shot.
sumjo: Yes, I have both the documents, as mentioned below. For ICICI, there is nothing much that I can do in terms of the exchange rate....negotiate for a better rate...yes, off course, but still at the end of the day, they WILL make money out of it, whether I like it or not!! Thanks! :( :(

CRS Self Certification for NRO/NRE accounts - questions

MeagainMe: Thanks Mitron, Full House, Fido for your input
MITRON: CRA is doing nothing about PANAMA papers. They are doing nothing about countless Canadian rich people who have millions & billions in off shore TAX HAVENS like lot of the Carribean Islands like Bahamas etc. Even Big companies & corporates are avoiding taxes by routing money over seas & avoiding
MITRON: If you are worried about past years & not reporting interest from past years & CRA catching you. Then just close down both the NRO/NRE accounts with that particular Indian bank of yours & open a new account with a totally new bank with whom you never had a bank account before :). There are countless banks in India, pandering to NRI's as they need foreign exchange. So now you are starting fresh from 2018 on wards.
Fido: If you were not to provide them with the correct SIN , how will the Indian Banks validate its correctness ? Provide a nine digit number to them as SIN .. Most likely its just an eyewash and they would be satisfied . If not then maybe they will come back to you in a couple of years IF CRA shares

Current Citizenship Processing Timeline for Seniors

love_n_peace: Kasmodiya Ji, I recently done my parents citizenship I applied in 01 June 2017 and they called for Document verification sometime in January 2018 and their oaths done on 27 February 2018. We live in Brampton - Peel Region and processing time depend on where you live.
Full House: Please check here. There is a Language requirement to get through and please check that item also. Good Luck. LINK FH.
kasmodiya: Hi, I am wondering as Seniors (55+) who have completed their days. :confused: :confused: How long is it taking nowadays to get "Citizenship Interview / Oath Ceremony"? Thanks, Kas

Newest Posts

ExpressEntryNEW. EDIT 8

Full House: Are you the lucky one !! Immigration, Refugees and Citizenship Canada (IRCC) has invited 2,000 candidates in the Express Entry pool to apply for Canadian permanent residence in a draw that took place the morning of Wednesday, November 8. The Comprehensive Ranking System (CRS) score of the lowest-ranked candidate issued an Invitation to Apply (ITA) was 458. This latest draw, the 77th to take place since Express Entry was first introduced in January, 2015 and the 27th so far this year, is the first draw to operate under a new procedure whereby in the event that multiple candidates have tied CRS scores, profiles are ranked according to the date and time of submission of the profiles, with profiles that have been in the pool longer being prioritized for invitation over newer profiles. This tie-break policy was first unveiled by IRCC as a possible future strategy last June.


Full House: FRIDAY the 13th April. If you don't, one of these days you will get caught. Then your goose is cooked. Don't forget, you are leaving a DIGITAL Foot print and it is traceable. One of the biggest relationship deal-breakers is cheating. Whether it was a one time fling or a long-term love affair, significant others find it very difficult to forgive, and nearly impossible to forget an act of infidelity cheating. A monogamous relationship, by definition, is supposed to be a faithful one, so it is no surprise that the first thing a scorned partner wants to know is, "why?" Because men are more likely to stray than women - the Institute for Family Studies cites that 20% of men and 13% of women report having sex outside of their marriage - we took to Reddit to find out some of the explanations unfaithful men give for their cheating ways. Her is how they get caught. NJOY Reading it.

PM Modi inaugurates Dr Ambedkar National Memorial in Delhi

Garvo Gujarati: Prime Minister Narendra Modi said it is a matter of fortune for his Government that they got an opportunity to develop five places associated with Babasaheb, including the Memorial in Delhi. He said that this Memorial, which the previous governments had ignored but his government expedited, would bring Babasaheb closer to the younger generation. LINK

OCI Application in 2018

alwaysbanned: If you applied for OCI in 2018 please share your experience and tips . Im planning to apply along with my kids. Thanks in advance

Any Pingpong (Table tennis) players in L6P area?

love_n_peace: Hello CD community, Just want some interesting exercise after dinner and looking if some one plays pingpong (table tennis) in Brampton L6P area. I can hop in or host not a problem.

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