Declaring assets????

[adi99]

Hi ,

Pls if anyone can answer a few queries on assets.

Do I need to declare my property in India which I intend to give it on rent while moving to Canada?

What if I sell my property at a later stage and use that money in buying a house in Canada, will that money be taxable and all?

Your inputs will be highly appreciated!!

Regards,
Adi

 

[steaky]

Hi ,

Pls if anyone can answer a few queries on assets.

Do I need to declare my property in India which I intend to give it on rent while moving to Canada?

What if I sell my property at a later stage and use that money in buying a house in Canada, will that money be taxable and all?

Your inputs will be highly appreciated!!

Regards,
Adi

If you live in Canada, you would be subject on your world-wide income. The rent you received from the rental property in India is subject to tax. Capital gain tax if you sell the rental property later on.