Canada–India Tax, FEMA & Financial Advisory for NRIs & OCIs.
RRSP and TFSA treatment, departure tax, T1135 reporting and the India-Canada DTAA — for OCIs, PRs and Canadian citizens of Indian origin returning home or holding India-linked assets.
The five things Canada-based NRIs and OCIs ask about most.
India-Canada DTAA
Treaty article-by-article: pensions, employment income, capital gains, FTC claims on both sides.
T1135 foreign-property reporting
Any Canadian resident with foreign assets above CAD 100K must file T1135 — Indian property, MFs and accounts count.
Departure tax on emigration
Canada taxes deemed disposition of most assets the day you cease residency. Plan around RRSP, TFSA and stock options.
RRSP and TFSA after return
RRSPs grow tax-deferred under DTAA; TFSAs lose Indian shelter — sequence withdrawals before RNOR ends.
OAS, CPP and pensions
Treaty totalisation, source taxation and timing of benefit claims for India-resident retirees.
How Canada-based clients typically engage us.
Return-to-India strategy call
RNOR window, RRSP/TFSA sequencing, departure-tax planning and India FEMA setup.
T1135 disclosure review
Reconcile Indian property, MFs and bank accounts against your Canadian filings.
Cross-border investment review
Optimise India MF, NRE FD and Canadian brokerage holdings around the DTAA.
Why NRIs trust us with their India money.
Led by Regi Tom Antony, FCA — Regional CFO, Board Member and NRI Tax Specialist. Advisory is delivered through RTA & Associates, an ICAI-registered Chartered Accountant firm with 30+ years of cross-border practice.
Common questions from Canada-based NRIs and OCIs.
Yes, if the total cost of your specified foreign property exceeded CAD 100,000 at any time in the year. Indian real estate held for personal use is exempt, but rental property, MFs, NRE/NRO deposits, shares and ESOPs are reportable. Penalties start at CAD 25 per day, capped at CAD 2,500, and can rise to 5% of asset value for gross negligence.
Under the India-Canada DTAA, RRSP withdrawals are taxable in Canada (25% withholding for non-residents, often reduced). India does not tax accruals inside the RRSP, but taxes withdrawals once you are ordinarily resident — with DTAA credit for Canadian tax paid. RNOR years are the cleanest window for large withdrawals.
Only in Canada. India does not recognise the TFSA wrapper, so interest, dividends and capital gains inside the account become taxable in India once you are ordinarily resident. Many returnees withdraw and redeploy TFSA balances before exiting RNOR to preserve the tax shelter.
When you cease to be a Canadian tax resident, Canada deems you to have sold most assets at fair market value and taxes the unrealised gain. RRSPs, TFSAs, RPPs and Canadian real property are excluded. Stock options, foreign property and non-registered investments are caught. Form T1243 and T1244 capture the calculation.
Plan your Canada–India money moves with a CA-led team.
One 20-minute call. A written plan covering residency, FEMA, repatriation and tax.