The Canada GIC procedure is a mandatory requirement for all overseas students who wish to pursue studies in Canada under the Student Direct Stream programs suggested by the Canadian government. Still, many pupils are confused about the exact Canada GIC program. This writeup throws light on the Canada GIC program of the three most prominent…
The Reserve Bank of India governs the Liberalized Remittance Scheme in India to monitor foreign exchange transactions in India. Specific guidelines are laid out to carry out each foreign exchange transaction that adheres to RBI regulations and laws. Here are some of the popular outward remittance types from India to abroad and the documents required….
The Finance Act 2020 has implemented new provisions for collecting tax at source, otherwise known as TCS, on foreign transactions from October 1, 2020. Foreign remittance means outward fund transfers or money outside India. The new tax does not apply to inward remittances. The imposed TCS will not apply if the tax is deducted at…
Is GIC mandatory for a Canadian student visa? How to apply? GIC has become more relevant for pursuing higher studies at universities in Canada. It symbolizes guaranteeing the Canadian government that you have sufficient funds to cover your living expenses for the first year in Canada. It is essential for easy and quick Canadian visa/study…
Laws you need to know about International Money Transfer In the present era of globalization, there is a hike in the number of overseas remittances. The internationalization of production increased in world commercial services, and e-commerce activity has led to a total increase in cross-border transfers. Moreover, factors such as migration to abroad countries, overseas…
How to apply for GIC from India for a Canadian student visa? GIC stands for Guaranteed Investment Certificate. It is a short-term liquid investment usually for up to a year given by Canadian Banks. Under the Student Partner Program (SPP) Visa, applicants must invest CAD 20,635 in a Guaranteed Investment Certificate (GIC) with an authorized…
