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Canada–India Tax, FEMA & Financial Advisory for NRIs & OCIs.
Indian-origin Canadian PRs and citizens remain NRIs for Indian tax based on physical presence. Canadian departure on return triggers deemed disposition of non-registered assets; pair this with Indian RNOR cost-basis sequencing. RRSP and TFSA lose Canadian shelter once you are Indian-resident; T1135 and Schedule FA need synchronised disclosures during the changeover year.
Last reviewed: June 2026 · Updated for AY 2026-27
What Canada NRIs ask first.
The same four pillars (tax, FEMA, property, return) apply everywhere — but the order changes by corridor. Here's where Canada cases usually start.
- 01RRSP and TFSA treatment on return
- 02T1135 foreign-asset reporting
- 03CRA departure return
- 04India-Canada DTAA
- 05Coordinating filing seasons
How we help Canada NRIs.
Book a focused advisory call tailored to your corridor.
- 01Canada-India return planning call
- 02RRSP/TFSA & departure tax review
- 03T1135 and Schedule FA alignment
Deep reads for Canada NRIs.
Step-by-step explainers written for the Gulf corridor.
Got a Canada-specific question?
Mention the country and life stage — we'll send back a corridor-specific reply.
Answered, candidly.
- Does India recognise my Canadian RRSP as tax-deferred?
- Not as deferred — withdrawals are typically taxable in India once you're resident, with DTAA credit for Canadian withholding. RNOR-year withdrawals can be substantially more efficient.
- What happens to my TFSA after I return to India?
- The TFSA loses its shelter — India does not recognise it. Growth and dividends become taxable in India once you're resident. We typically model whether to liquidate pre-move or hold as a non-sheltered portfolio.
- How does CRA departure tax interact with Indian basis?
- Canada deems disposition of most assets at fair market value on emigration, triggering capital gains. India uses cost-of-acquisition. We document the deemed-disposition value so future Indian sales aren't double-taxed.
The frameworks on this page are drawn from NRI Tax Blueprint 2025 — written by Regi Tom Antony, FCA, the practicing CA who advises on the same problems every week.
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