Do I pay tax if I convert INR to CAD to use in Canada


Piercarlo Slavazza
HOME ยป Personal Finance

If as a Canadian resident, I hold an NRE account with an Indian bank and i transfer money earned in CAD to this account. The I earn interest in rupees and want to transfer back to CAD.The interest is tax free in India for NRE account, but when I convert them to CAD to use in Canada, do I pay tax to CRA? Assumption is that I already paid tax on the original CAD which i transferred to india

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Do I pay tax if I convert INR to CAD to use in Canada
by Piercarlo Slavazza in Personal Finance

If as a Canadian resident, I hold an NRE account with an Indian bank and i transfer money earned in CAD to this account. The I earn interest in rupees and want to transfer back to CAD.The interest is tax free in India for NRE account, but when I convert them to CAD to use in Canada, do I pay tax to
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