How much money can we bring from India (I am going to India on Vacation)?
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Why don't you talk to some Banks in India or travel agents? I believe they are in a better position to let you know everything in this regard.
Just my $0.02. Good luck.
Quote:
Originally posted by kumar_vadivelu
I wouldn't do what you are trying to do. Leave money in India and send money from Canada to India. That's what every none is doing here. That is the reason no knows the latest regulation of RBI.
I haven't come across anyone who is doing that unless he needs to send money to India for family needs.
One simple reason could be - most of us are hardly able to save any money here - no way to send to India!
Another reason to bring money from India - you need to buy a house here since you live here and need the downpayment, or simply to survive while you are looking for good jobs.
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Chandresh
Advice is free – lessons I charge for!!
Dear Chandresh,
I'm also interested to know how much money we can bring from India. I'm canadian citizen and want to bring some money to buy house.
Is there any tax implication if someone give you money as a Gifts like parents?
Thanks
gangwark
I am sending money to India on monthly basis. So far I did at least over 50 K. Through Indian banks State Bank and ICICI every day approximately 100 crore money has been transferred to India. People are not honest to tell that they are saving money in Canada. Every one is saving that is my thinking otherwise why they stay here? what is the point for staying here if they are not making money? I am really surprised that people are bringing money from India to buy houses/condos in Canada.
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I am new
Location: God's own country
Posted on: 01-09-07 14:23:33
Quote:
Originally posted by kumar_vadivelu
I am sending money to India on monthly basis. So far I did at least over 50 K. Through Indian banks State Bank and ICICI every day approximately 100 crore money has been transferred to India. People are not honest to tell that they are saving money in Canada. Every one is saving that is my thinking otherwise why they stay here? what is the point for staying here if they are not making money? I am really surprised that people are bringing money from India to buy houses/condos in Canada.
Kumar Vadivelu,
That is the mentality of Tamilians. We are here to earn money , save and then spend our life in Indian. Atleast that was the reason that I came here (to save more money than i could than in the gulf). But unfortunately , i was not able to save any money here. I might have sent around $1000 to my parents the whole 5 1/2 years that I have been here.
But based on the postings of the forum (predominantly North Indians), looks like most of them have come to Canada to enjoy a better quality of life, to live in a pollution less, corruption free environment. Most of them are happy to divert their salaries on paying mortgage, having a brand new car, making weekend trips to cottages etc....
As my friend preetham said from Australia, if both the spouses earn and you make a decent savings of 100K Cdn. in Canada in 10 years (which is max. you can save), It is worth 37 lakhs in Indian currency, which is not enough to buy a plot of land in the outskirts of Chennai.
TK A
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I am a Gents and not a Ladies.
In my opinion, Saving is not a bad mentality whether it is a Tamils or a North Indians, I have seen few North Indians in the GTA and their savings amazed me. All are working people and all have good jobs and they guided me how to save also.
My primary purpose of Immigration is to make 100 K salary per year either in Canadian $$ or in the US $$ from my profession in North America. I am working towards that If I could not reach 100 K $$ in two year time limit either I will return to Chennai or I will start a business in Canada.
God has given to us 24 hours equally to every one, how we are utilizing that is the question. In no way, I am compromising my life style or my profession to make 100 K $$.
Tamilkuravan
I could not digest that you were able to save and send only $1,000 in five and half years span after living in Canada. Canada is a developed country and part of the G8 Countries. $200 per year saving????. Are you earning your salary to pay your bills only not for saving?
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I am new
Location: God's own country
Posted on: 01-09-07 23:38:27
Kumar,
I agree that savings is not a bad mentality. It is only that Can we really save in Canada?
The 100K job that you are talking about? Is it a individual income or is it a family income. An individual income of 100K is hard to get, even if you are a software engineer, unless you are into a sucessful business. I would be very interested to know (as well as my fellow tamils on the CD board) as how to earn 100K per individual per annum in the GTA. On that point, I would also like to know your profession as you had mentioned that your goal was to acheive a goal of 100K in your profession and in 2 years.
If you read my previous posts, I have been underpaid for the past 5 1/2 years and can barely make my ends meet for the salary that I am getting.
I also would like to know as to what kind of business venture you have been planning in case your professional goal of 100K is not met. I have tried a vareity of businesses like selling Samosa's/ vadai's/ dosai batter, free lance house drafting works. renting out a portion of my basment, doing courier service within the GTA, doing 2 jobs, etc.. but it all fell apart after a few days of work.
TK A
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I am a Gents and not a Ladies.
