NRE FD interest - is it TAXABLE in Canada

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ajay28
Member since: Mar 13

Posts: 1
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Post ID: #PID

Posted on: 21-03-13 17:51:05

is the interest received in NRE bank deposits in INDIA considered taxable in Canada

is it based on interest Earned or interest received?

metouk
Member since: Feb 05

Posts: 220
Location:
Post ID: #PID

Posted on: 21-03-13 23:18:43

Please answer following
1. Why you convert those money in Indian Rs. ?
2. Do you want to bring back those money / interest earned in canada ?

Fido
Member since: Aug 06

Posts: 5286
Location: Canada
Post ID: #PID

Posted on: 22-03-13 16:32:37

Well it would be as Canada expects you to report world income ... If you would have paid any tax on it in another country then your tax liability in Canada would be lessened per the exchange understanding b/w the 2 countries ...

It is always on interest accrued and earned not received physically .

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Fido.

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NRE FD interest - is it TAXABLE in Canada

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