Posted on: 24-08-17 21:11:52
DUPLICATE.
1. Transfer it to your NRE account for the time being, so that there is NO Tax deducted at source - TDS on the interest you get.
2. NRO account will have almost 30 % TDS deducted on the interest you get.
3. Foreign Currency Non Resident (FCNR) accounts are also tax free in India. The advantage here is you don't have to worry about Foreign exchange rates. You can keep the money in CAD dollars, and when the exchange rate is favourable you can convert some of it into INR - Rs.
Right now CAD is Rs. 50 , just a 2-3 yrs back it was Rs. 60 , so you will lose almost 20 % in exchange rate. So maybe wait for the exchange rate to go up again before the conversion.
4. You can also transfer to a regular savings bank account also in India.
But technically and legally that account is illegal. You are not supposed to have that resident regular savings account, as the moment you become a NRI, or PR or Canadian citizen, you are supposed to convert that resident regular account into NRO/NRE account. But most people don't bother.
Anyways you are returning back to India, so that account is technically legal now 
and NRE/NRO accounts will be illegal now if you reside here & move back permanently.
Ha ha, I guess you are NOT interested in the great Canadian citizenship & the great Canadian passport and going back with PR, which will eventually expire due to lack of residency in Canada.
Good move, much better than living in the Frozen Racist Tundra and doing a minimum wage job.
Thanks all for your valuable input,
@pendse
I don't have bad feelings for Canada as this country gives lots of things other than money. it made us better human being which respects other person and their views which I have never experienced in India. we did very hard work got registration in our fields and in return received respect and good payable jobs.
regarding moving back it's personal decision which suits our need. my all other family members are Canadian citizen, just me who don't want citizenship here.
Quote:
Originally posted by Lg
Thanks all for your valuable input,
I don't have bad feelings for Canada as this country gives lots of things other than money. it made us better human being which respects other person and their views which I have never experienced in India. we did very hard work got registration in our fields and in return received respect and good payable jobs.
regarding moving back it's personal decision which suits our need. my all other family members are Canadian citizen, just me who don't want citizenship here.
LOL..so you didn't have all this before coming to Canada ?
Racism & discrimination is a part of Canada, its too subtle & hidden for you to notice it.
So racist Canada didn't recognize your education & qualification and made you re do everything & get registration in your fields because they think Indian education is inferior ? How much time, energy & money did you waste in doing that ? And you are singing their praises ?
I bet some uneducated high school drop out GORA was your boss, and brown, black & chinese people were working as coolies under him.
You didn't want Canadian citizenship because deep down in your heart you always knew what a broke ass cheapo racist country Canada is & how it loots & preys on immigrants and you will always be a second class citizen over here
. And you always wanted to return back to the beautiful country called India, where at least you will be equal & no racism/discrimination will take place.
The only time you will have a good life in Canada is when you are submissive to your Gora master & appease him & accept your second class life. Try to stand up for your rights & try to be assertive & you will soon know what the Goras think about brown people & immigrants in general.
I can go on this as long as you want but it's not worth to tell you something which you can not understand.
Quote:
Originally posted by Lg
I can go on this as long as you want but it's not worth to tell you something which you can not understand.
Appreciate your restraint.
: Cheers:
M
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Live and let live!
