Receiving Money as Gift From India

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chittesh
Member since: May 05

Posts: 448
Location: Here and There
Post ID: #PID

Posted on: 26-08-09 12:26:29

My parents want to send me oney as gift from india .
Will i be taxed on the money? How much? Is there a exemption limit etc?

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Live and Let Live

ftfl
Member since: Jul 06

Posts: 2335
Location:
Post ID: #PID

Posted on: 26-08-09 18:02:01

Quote:
Originally posted by chittesh

My parents want to send me money as gift from india .
Will i be taxed on the money? How much? Is there an exemption limit etc?

__________________________________________________________

Most of such questions have been asked and have been answered before. It surely does take time to read and find them. So, whenever you do have some time start reading the threads and enjoy doing it. You will find a few surprising answers too. The knowledge base that you will acquire will be immense, especially for one who has come down to Canada.

Goor Luck.

Here is one such thread. : http://www.canadiandesi.com/read.php?TID=25297 You will find it in here.

Have a good one.

Freddie

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