Funds to be remitted to canada
This query is : Resolved
Gurvinder Singh
(Querist)
22 August 2012
Dear Experts,
I have got P.R. of Canada & planning to go there in next two months time. I have a residential property which I want to sell off and take the sale proceeds to Canada. The property's sale price is approx. 2.5 crores. Now my queries are following :-
1. The property has registered value of around 40 lakhs and if I take 1 crore by cheque payment and other by cash, will it be possible to transfer the funds fully?
2. Or otherwise I take the full sale consideration i.e. 2.5 crores in cheque, Can I transfer the full payment to Canada and how? Pls note that I will be buying a new house in next 6 months of around the same value in Canada.
I have got P.R. of Canada & planning to go there in next two months time. I have a residential property which I want to sell off and take the sale proceeds to Canada. The property's sale price is approx. 2.5 crores. Now my queries are following :-
1. The property has registered value of around 40 lakhs and if I take 1 crore by cheque payment and other by cash, will it be possible to transfer the funds fully?
2. Or otherwise I take the full sale consideration i.e. 2.5 crores in cheque, Can I transfer the full payment to Canada and how? Pls note that I will be buying a new house in next 6 months of around the same value in Canada.
CA. Anuj Gupta
(Expert)
23 August 2012
Answer to your second query is yes, but there may be tax implications in same.
I suggest that you take professional help.
Anuj
femaquery@gmail.com
+91-9810106211
I suggest that you take professional help.
Anuj
femaquery@gmail.com
+91-9810106211
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- GST input credit on commercial property
- Nursery business
- TDS on Dashcam rent and allied services
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- Import Order Cancelled.
- IMS (import of goods) ITC related
- Royalty payments to the Mining Department for procurement of murum - GST input
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
