I am a Canadian citizen and got a job in India.Waiting for Canadian passport for further processing.My family will remain here .Would appreciate the advise on following:
1. Want to go on Employment visa and from India can I apply for OCI or which way is better and faster?
2. What about the Income Tax deductions? in India or in Canada?
3. Where I will file the Tax return : in India or in Canada?
4. Which type of account I have to open in India & which bank?
5. What would be the best way to send the money here to Canada from India?
6. Anyone in the similar situation and want to share.
Monusingh
Location: Western Hemisphere
Posted on: 25-11-09 11:33:33
1. Want to go on Employment visa and from India can I apply for OCI or which way is better and faster?
>>>>> OCI from Toronto consulate takes about 3 to 4 months. Not sure how long or cumbersome employment visa is. If it takes about the same time, you might as well go for the OCI.
2. What about the Income Tax deductions? in India or in Canada?
3. Where I will file the Tax return : in India or in Canada?
>>>>> If your family is staying back, you may still be considered tax resident of Canada, hence you will have to file taxes in both India (wage earning country) and Canada (tax resident country). There may be provisions to take foreign credit for taxes paid and hence can avoid double taxation. In other words, you maynot have to pay anything in Canada (but still have to file). Discuss more in detail with a tax professional.
4. Which type of account I have to open in India & which bank?
>>>>>> Go to ICICI website. It has all the details of accounts and what is suitable in your situation.
5. What would be the best way to send the money here to Canada from India?
>>>> Again, ICICI has provisions to do that and the wesite has all the details. The reading might take a while and understanding it might take a longer while, but it's worth it.
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Dimple2001
Quote:
Originally posted by dimple2001
1. Want to go on Employment visa and from India can I apply for OCI or which way is better and faster?
>>>>> OCI from Toronto consulate takes about 3 to 4 months. Not sure how long or cumbersome employment visa is. If it takes about the same time, you might as well go for the OCI.
2. What about the Income Tax deductions? in India or in Canada?
3. Where I will file the Tax return : in India or in Canada?
>>>>> If your family is staying back, you may still be considered tax resident of Canada, hence you will have to file taxes in both India (wage earning country) and Canada (tax resident country). There may be provisions to take foreign credit for taxes paid and hence can avoid double taxation. In other words, you maynot have to pay anything in Canada (but still have to file). Discuss more in detail with a tax professional.
4. Which type of account I have to open in India & which bank?
>>>>>> Go to ICICI website. It has all the details of accounts and what is suitable in your situation.
5. What would be the best way to send the money here to Canada from India?
>>>> Again, ICICI has provisions to do that and the wesite has all the details. The reading might take a while and understanding it might take a longer while, but it's worth it.
Thanks Dimple2001
I believe the employment visa takes app.2~3 weeks in compare to OCI process of 2~3 months.Better I will take the Employment visa,because of early joining.My question weather I can apply for OCI from India with employment visa is active.
For filling the Tax return in both countries the financial year in India is April to March and in Canada Jan to Dec.,how this will work .Need expert advise with details.
Monusingh
Quote:
Originally posted by Monusingh
Quote:
Originally posted by dimple2001
1. Want to go on Employment visa and from India can I apply for OCI or which way is better and faster?
>>>>> OCI from Toronto consulate takes about 3 to 4 months. Not sure how long or cumbersome employment visa is. If it takes about the same time, you might as well go for the OCI.
2. What about the Income Tax deductions? in India or in Canada?
3. Where I will file the Tax return : in India or in Canada?
>>>>> If your family is staying back, you may still be considered tax resident of Canada, hence you will have to file taxes in both India (wage earning country) and Canada (tax resident country). There may be provisions to take foreign credit for taxes paid and hence can avoid double taxation. In other words, you maynot have to pay anything in Canada (but still have to file). Discuss more in detail with a tax professional.
4. Which type of account I have to open in India & which bank?
>>>>>> Go to ICICI website. It has all the details of accounts and what is suitable in your situation.
5. What would be the best way to send the money here to Canada from India?
>>>> Again, ICICI has provisions to do that and the wesite has all the details. The reading might take a while and understanding it might take a longer while, but it's worth it.
Thanks Dimple2001
I believe the employment visa takes app.2~3 weeks in compare to OCI process of 2~3 months.Better I will take the Employment visa,because of early joining.My question weather I can apply for OCI from India with employment visa is active.
For filling the Tax return in both countries the financial year in India is April to March and in Canada Jan to Dec.,how this will work .Need expert advise with details.
Monusingh
hey monu...can you share your experience on what kind of job you got in India and if you are thinking of permanently to relocate to India and what made you take this decision.
Quote:
Originally posted by nishant3112
Quote:
Originally posted by Monusingh
Quote:
Originally posted by dimple2001
1. Want to go on Employment visa and from India can I apply for OCI or which way is better and faster?
>>>>> OCI from Toronto consulate takes about 3 to 4 months. Not sure how long or cumbersome employment visa is. If it takes about the same time, you might as well go for the OCI.
2. What about the Income Tax deductions? in India or in Canada?
3. Where I will file the Tax return : in India or in Canada?
>>>>> If your family is staying back, you may still be considered tax resident of Canada, hence you will have to file taxes in both India (wage earning country) and Canada (tax resident country). There may be provisions to take foreign credit for taxes paid and hence can avoid double taxation. In other words, you maynot have to pay anything in Canada (but still have to file). Discuss more in detail with a tax professional.
4. Which type of account I have to open in India & which bank?
>>>>>> Go to ICICI website. It has all the details of accounts and what is suitable in your situation.
5. What would be the best way to send the money here to Canada from India?
>>>> Again, ICICI has provisions to do that and the wesite has all the details. The reading might take a while and understanding it might take a longer while, but it's worth it.
Thanks Dimple2001
I believe the employment visa takes app.2~3 weeks in compare to OCI process of 2~3 months.Better I will take the Employment visa,because of early joining.My question weather I can apply for OCI from India with employment visa is active.
For filling the Tax return in both countries the financial year in India is April to March and in Canada Jan to Dec.,how this will work .Need expert advise with details.
Monusingh
hey monu...can you share your experience on what kind of job you got in India and if you are thinking of permanently to relocate to India and what made you take this decision.
I got a job in a manufacturing company related with my field of operations,actually I was working for this company before moving to Canada in 2005 but in a different location.I made the arrangement with this company to visit my family here in Canada every quarter/in 6 months duration.Good offer by this company and working in my own field made me to take this decision.
Just curious to know, will u be earning in dollars or rupees?
Good luck for your new job.
Quote:
Originally posted by cutiepie
Just curious to know, will u be earning in dollars or rupees?
Good luck for your new job.
Will be earning in rupees.
