I have to receive inheritance money from India. What is the best way to get it here? Can i receive it as a gift deed from my brother or should i show as inheritance? what is the limit that we can receive?
You do not have to pay Canadian income tax on the value of a foreign inheritance that you receive. You may need to complete Form T1135, foreign income verification statement, to report your foreign inheritance, if the cost amount is more than $100,000 CAD.