30% Tax On Money Sent From India To Canada?


Jump to Page:
< Previous  [ 1 ]    Next >




djshorty   
Member since: Jul 11
Posts: 1
Location:

Post ID: #PID Posted on: 30-07-11 15:34:57

Hi,
I'm in a business relationship with someone in India and they need to send me a large sum of money (greater than $25,000). He was told by his Accountant that sending money outside of India to Canada will be taxed at 30% of the revenue. Is this true? If so, how do people go about getting around this problem?

Thanks,



JRF   
Member since: Jul 04
Posts: 1853
Location: GTA, Ontario

Post ID: #PID Posted on: 01-08-11 10:09:24


Talk to the Bank Manager (more than one).
Are they paying you salary for the services you provided ? purchase. I think each scenario will be handled differently.

Quote:
Originally posted by djshorty

Hi,
I'm in a business relationship with someone in India and they need to send me a large sum of money (greater than $25,000). He was told by his Accountant that sending money outside of India to Canada will be taxed at 30% of the revenue. Is this true? If so, how do people go about getting around this problem?

Thanks,


-----------------------------------------------------------------
The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM


Vandematram   
Member since: Nov 08
Posts: 1448
Location: Sunny - Leone

Post ID: #PID Posted on: 01-08-11 17:01:26

Money transfer agents are in plenty.

They deliver amounts at your home in 24 hours in any major metro in India or you have to collect it in their office in Canada.

Very effective and they are even handling 100K CAD at any individual transaction.

In mississauga you have one right at the intersection of Dundas and HWY 10.

They have another name called Hawala.


-----------------------------------------------------------------
Sunny Leone a true Canadian DESI now back in India !.




Jump to Page: < Previous  [ 1 ]    Next >

Discussions similar to: 30% Tax On Money Sent From India To Canada?

Topic Forum Views Replies
Sending Money To India ( 1 2 3 4 )
Financial Planning 10277 22
Best way to take money form India to Canada ( 1 2 3 )
Moving Soon 5850 15
Truck drivers for Canada from India. A Scam? ( 1 2 )
General 4413 8
Sending money to India
Our Native Country! 10829 3
Best reliable, cost savings different options of sending money to India
Public Services 1815 2
Transfer of Money from Dubai ( 1 2 3 )
Moving Soon 5629 16
Tax Deduction for Sending Money to India
Accounting and Taxation 1914 1
How to send money from India to Canada-Urgent need ( 1 2 )
Accounting and Taxation 3473 7
Receiving Money as Gift From India
Accounting and Taxation 1911 1
Transferring money from India to Canada... ( 1 2 )
Accounting and Taxation 35288 10
sending money to India ( 1 2 )
Financial Planning 4601 10
Repatriation of salary income from India
Jobs 2064 2
How much money can be taken to India? ( 1 2 )
Accounting and Taxation 3317 9
Gift amount from Parents in India
General 10924 5
Sending Money to India
Our Native Country! 1500 1
30% Tax On Money Sent From India To Canada?
Financial Planning 2144 2
need to send money to india
Life 1842 5
Inheritance of Property and selling ( 1 2 3 )
Real Estate & Mortgages 6474 14
Easiest and fastest way to send money to India? ( 1 2 )
General 2657 9
Selling property in India to pay off mortgage in Canada
Financial Planning 3870 6
Transferring money from NRE account in India to Canada? ( 1 2 )
Accounting and Taxation 8231 8
How do you send money to India? ( 1 2 )
Financial Planning 5506 7
Selling property in India and bringing money to Canada - Need recomendation ( 1 2 )
Financial Planning 13847 7
Transfer of money from India to Canada
General 2679 3
Money 2 India from ICICI bank charges GST to transfer money to India.???
Financial Planning 2671 1
 


Share:
















Advertise Contact Us Privacy Policy and Terms of Usage FAQ
Canadian Desi
© 2001 Marg eSolutions


Site designed, developed and maintained by Marg eSolutions Inc.