Hi,
A family member needs to send some funds to Canada (around Rs. 2.5 lacs). I noticed that Remitly doesn't offer such a service.
1. What is the least expensive way of sending money to Canada from India?
2. Would there be any Canadian tax consequences for me when I receive the funds?
Thanks
Outward remittances from India are restricted. Bank to bank wire transfer can be done can be done from India. Tax implications, not sure.
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Quote:
Originally posted by RaOne
Hi,
A family member needs to send some funds to Canada (around Rs. 2.5 lacs). I noticed that Remitly doesn't offer such a service.
1. What is the least expensive way of sending money to Canada from India?
2. Would there be any Canadian tax consequences for me when I receive the funds?
Thanks
The best is Havala racket. People go or come to India all the time.
They need money in India.
So if a friend or colleague is traveling to India and to your city, ask him to give you $ 5,000 cash here and you give him Rs. 2.5 Lacs cash in India for his expenses.
Win Win situation for both.
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