How much money can be received from India as inheritance

Question

1981 viewsSeptember 2, 2020Personal Tax

0

Geetika (anonymous) Posted September 1, 2020

Hi,
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?

Thank you,

1 Answer

score 0 · Answer 1 · 2020-09-02T19:48:21+00:00

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.

How much money can be received from India as inheritance

1 Answer

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