Taxation of Revenue from Land in India - Canadian Resident

[atzquebec]

Hi,

I am resident of Canada living in Canada.

Do I need to pay taxes in Canada for revenue from land sale ? The land belongs to my in-laws.

Also do I need to declare that amount when doing taxes ?

 

[canuck78]

Hi,

I am resident of Canada living in Canada.

Do I need to pay taxes in Canada for revenue from land sale ? The land belongs to my in-laws.

Also do I need to declare that amount when doing taxes ?

If the land doesn't belong to you, you don't benefit financially from the sale so you don't need to pay taxes on the proceeds.

 

[atzquebec]

If the land doesn't belong to you, you don't benefit financially from the sale so you don't need to pay taxes on the proceeds.

If the land belongs to me then do i have to declare it, and also pay taxes on the revenue from the sale of that land ?

 

[canuck78]

If the land belongs to me then do i have to declare it, and also pay taxes on the revenue from the sale of that land ?

Sorry don't know and it is more than a simple yes or no question. If it is in your name an have been earning income off the land have you been declaring the income? Would suggest consulting an accountant familiar with Canadian and Indian taxes. They should be relatively easy to find in some regions of Canada.