Save money on GIC for CANADA by avoiding tax | TCS rule on GIC | GIC UPDATE 2020 - 2021
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- Опубліковано 28 лис 2020
- GIC UPDATE 2020 - 2021
If you are paying GIC and you go to bank and You want to save some tax over it. Or you are paying your fees then too!
Watch this video about what GIC is and how to save money
I hope you and your family is happy and healthy.
🌀 This video covers all the aspects a student should know before applying,
I have covered the following topics in this video -
🌀 What is GIC
🌀 How you can apply for GIC
🌀 In short about Scotia and CIBC
🌀 Benefits of CIBC
🌀 Options to Remitt money for GIC
🌀 Take my referral
USE MY REFERRAL CODE FOR GIC - knowprabhjyot@gmail.com
and earn $25 instantly!
GIC IMPORTANT LINKS
CIBC LINK
pay.cibc.com/ISBO/payment/#/
SCOTIA LINK
startright.scotiabank.com/stu...
🌀MY MOTTO - Is to help students about how to file their applications and know everything about Canadian Education. Are they investing their money in the right direction or not. Which college in Canada is best for them.
🌀About me:
My name is Prabhjyot, I am from Ghaziabad, India and have got admission in a college in Vancouver. I will be joining Canada in January 2021.
If you have questions, contact me on instagram I am mostly available on that.
🌀Contact me:
My Instagram: / prabhjyot_gambhir
💌My Email: knowprabhjyot@gmail.com
My Facebook: / prabhjotgambhir
My other youtube videos on canada :
💌 My application journey in detail -
• Universities/Colleges ...
💌 Masters vs Pg Diploma in canada -
• PG Diploma vs Masters ...
💌 Langara vs Douglas College in Canada - • Should I chose Langara...
#GICprocess #tcsruleongic #giccanada
Referred you for CIBC just now.
Thanks man!
Thanks :)
That's really informative. Good knowledge.
Thankyou so much Juily
Thankyou sir for information,however, I have a question.From which website you used to transfer GIC ?
yo i bought gic using your referral, thanks for all info, just wanted to give back to the work youre doing.
Very informative video ..I would use your reference in CBIC bank 👍
Zabardast bhai geo Zindabaad god bless you
Thanks bro
Very applicable with this TCS rule.
Thanks for the video paji! I have a question - Do I get a credit card at the time of opening the bank account In Canada as we get in scotia bank?
Please sir make a video which cover whole process of going canada in detail for a student ..like whole visa processing and alll other things...
Straight to the point, Awesome Bro
Amazing video👌🏻👌🏻Really helpful
Thankyou so much Jasleen
Very good content!!! keep posting good stuff :) :)
Thankyou Kavya
Liked how everything was in detail
Thankyou so much
You always cover everything in detail 😊😊😊 Thank you
Hi Niti, thankyou so much. Dont forget to add me on instagram.
@@knowgambhir988 If I pay 10150 C$, will there be any hidden charges apart from this?
Great useful content 👌 keep it up !
Thankyou Perin
Loved your honesty man....
Hi. Regading GIC, apart from the top choices of CIBC, SCOTIA BANK, ICICI & SBI that is often always discussed on the various www & tube videos, why isn't anyone considering the others mentioned in the list of IRCC?
bhai is pe video banao k housing kaise dhundhe
Sir how is your experience in Canada, because I guess its been 3 months since you moved there. Also, if possible upload more videos about student life in Vancouver.
Bhai ye corona kal mai waha ana thick rahega kya? september intake k lye prepare kr raha hun, Bhai is topic pe video banalo bohat log confuse haai mere jaise
Can you please confirm how much days we get to pay the amount after creating the GIC Account in CIBC??
Plz reply bro vancover community college kaisa hai and fee dusre clz jaisi hai ja jyada
Thank you sir, can I pay form credit card?
Very good video keep going brotha...
Thankyou so much Gagan
Which bank is suitable to transfer amount from India, Govt bank(SBI) or Pvt bank (Icici)
Hi there, love from Pakistan. Very informative videos. Thanks.
Great video and very informative. Bro i gave your referral code
Great information brother👌
Keep it up 👍
TCS not only applies on foreign transactions but also can apply if the account holder does not have previous years ITR's records.
Address on passport and the account from which money is being send should be same for CIBC?
Very detailed. Very nice
Bro, u didn't tell the process of transferring money through forex to CIBC GIC account. How can that be done?
🙌🙌 video bhai easy explain 🔥
Hello,
I am from Bangladesh. I watch your videos on you tube. I have a question. If I go for a 1 year post graduate diploma program and after finishing the program if I get 1 year work permit and if my work permit ends what will I do? Will I be able to extend my work permit and how will I apply for pr in my 1 year work permit?
if I choose INR in CIBC I will be paying just 60000
if not in Cad, I need to send C$10150 which is Rs 590000+590000*5%
Rs 590000+29500=619500 RS
Is it correct what I calculated?
Hey!
Have you got the cashback, i used your referral code today for making my GIC payment
great fun video bro!
Good job done. Yahibse kamai start. 25$ kub tak mile ge .
Hi, I am using your referral code. Thanks
Suggestion for future b.com graduate student who want to come to Canada ?
Another great video ❤️
Thankyou Ron
Sir how is kpu university in Vancouver for business management diploma and how much is fee for it
bro vo jo neeche tick mark hai 'I would like to pay in Canadian Dollars for a 1.5% program fee' vo select karneka hai ki nahi, vo toda confuse horaha me. timestamp in video: 5:03
No one shares this 😀 thanks for this video ❤️🔥
Thankyou so much
Hie Gambhir! Great video! By the way, from what I have understood in your video would you recommend paying in CAD as we get the 1.5% program fee it's currently almost 10k cheaper than normal INR if we are paying 10K CAD?
Yes bro I have same questen paying in cad whould be better
I understood the same!
Which option to choose??
Somebody tell which option to choose it is actually cheaper paying in cad 😅 direct 10k difference bro
bro Ive a bank account in yes bank and kotak in india and on cbic website very few bank is listed there then how can i transfer my gic through private bank ?
Can we pay guc through parents account if tuition fees is paid from student account already ??? please reply
Very informative and he kept everything so transperent. Thank-you sirji 🥰
Thankyou brother
Can you please tell me how to pay gic by visiting the bank
Thanks for the information 👍🏻
Thankyou Dhanush
Gic apne he acount se jruri hai..? I've already paid half of my tution from my own acount ?
Hey! If I transfer in Indian rupees I don’t have pay 5% tax ????
Hi, I am currently pursuing Mtech in Thermal Engineering under Mechanical Engineering department at Delhi technological University (D.C.E). I wanted to know can I apply to Industrial engineering course coz most of the Canadian university have this as completely new department. What are my chances ?? please please do reply.. and ya your video was very informative.. Thanks 🙂
Good content bro👍👍keep it up ✌️
Thankyou so much
Great video 👍
Bhai maine ICICI me gic khulwa li. Canada aaya hu to ab dekha 2hrs door hai meri University se uski branch
Straight forward apne CIBC aur Scotia bata diya. Abhi ek video please ICICI GIC
CIBC is the best among all. I got my gic letter in 4 days and just one day after payment. I successfully opened my GIC account in CIBC by myself and got my welcome letter and investment letter one day after RTGS which is 4 days after my registration. I
paid my fees using rtgs for CIBC and got the GIC letter the next day. I registered on 20th June got payment instructions on 21st June and paid the amount via bank rtgs on 23rd at 3. Pm and got my confirmation and both GIC and welcome letter on 24th June at 2 pm.
CIBC ke aage Bank nhi lagaate as it's already included in the short form of Canadian Imperial Bank of Commerce
Do you know steps to pay GIC amount through thomas cook??
pls suggest me
cibc is making me sign an a2 form, if it aint taxable if i pay in INR?
Hello sir hope your doing good
I am willing to come to Canada , i need your advice for Human Resource or Human Resource Analytics course or program . Please suggest me the college, availability of the course. In Van couver. Waiting for your reply.
Thank you
Bro ur intention is good...but its a little misguiding as the rule of TCS applies only on payment which is more than Rs7,00,000/-
But $10,200 CAD comes to Rs 6,12,000 so that rule any which way doesn't apply
Hi its not misleading, when you dont take an education loan and pay from other loan options then TCS is deducted when you pay your college fees and also when you pay your GIC.
@@nirmala6bist661 okay
@@nirmala6bist661 how muçh u pay extŕa for fees ànd gic
@@PreetKaur-gl1ve I would recommend u take a student loan to avoid extra fees like TCS, GST, transaction fees, etc. I paid through personal loan so extra cost on tution fees was almost 90k.
@@nirmala6bist661 hi can you plese tell do i have to pay tcs on gic and fees both if they are made from one bank account. Like for an example If i my fees is lets say 11 lakhs and then 6 lakh gic from same acc so do i have to pay tcs only on 4 lakh which is from fees or do i have to pay tcs on 10 lakh which is includind gic ( 6 lakh + 4 lakh fees ) ?
Bhai mene BACHELORS OF ENGINEERING ki hai 4 saal ki lekin bhai mere ko bhut supplimentries lagi thi jo sab clear hain ab to kya mein canada mey master karne kay liye eligible hoo?
I filled my application in cibc with canadian dollar currency. Will there be any problem for me while paying. Im from
India
Quality content 🔥🔥
Thankyou Prateek
Fees pay kerne par ek video banado
Hi, I have given ur reference while paying GIC
I want to withdraw money from GIC after 6 month as I have not filled for visa and existing account is icici and it’s totally closed now. Can I get it back in my new account details that is same as per passport , Gambhir sir
Very Informative 💯
Thankyou Navdha
bro GIC is 10,000 dollars which wont cross 7 lakhs barrier.So what is the point ??
Bro, are you sure we can transfer money for CIBC GIC through forex companies like thomas cook?
You can call and confirm from them too :)
Bhai, if you pay in CAD it will be $10,150 + 35$ outward remittance fees by Indian bank - 25$ referral code = 10,160$ X today conversion rate. This is correct info. CIBC will save you good amount of money. And do choose CIBC if you are going for only 1 year PG course like me. Abhie yeh dekhne wali baat hai ke , referral code kahan dale?? And yearly 1000$ milte hai ke nahi !!
Bro u said intrest 0.5 to 1 persent it is per annum or per month
Did you got the admission in Langara ???
Are you in canada now ???
Bro GIC to apne account se bhejni hoti hai, Thomas Cook se bhejenge to hamara account name thodi hoga ?
I talked to Thomas cook back then, they said they can arrange it by showing your name as sender.
Informative video
Thankyou so much brother
Informative
Good any idea about kpu in Vancouver with supply chain management and co op
Hi even I have applied for KPU 2021, did you get offer yet??
Thankyou Abhimalek
@@juilypatil2762 which intake I looking for September,how much is fees for post baccalaureate program in supply chain management and logistics???,is the co op paid, please reply to here or abhiajay3300@gmail.com
I have opted to pay in CAD and I’m confused how to add beneficiary in hdfc about CIBC bank details ( not Mumbai bank)
how much you had to pay in total using CAD
Bhai jab GIC hai hi 7 lacs se kam to kaise Katt jayege 5 percent tax ? ...... 😅😅
Hey I opened Scotiabank GIC earlier but after watching your video I think CIBC is best option. Is there a was to cancel my Scotiabank application?
That is my Question too?
Very informative, some queries from my end, a) can you share CIBC bombay contact? b) Do CIBC provide a credit card to students?
Yes CIBC give $1000 cc while Scotia give $500 after covid
Great Information , I am looking for Program in MITT College Winnipeg . Please help me to find the review of the college .
How to save 5% TCS on fee transfer through flywire
Bhai canada me web development ki job opportunities kaisi hai , Conestoga me web development ka course lene ki soch raha hu but job opportunities ka clear nahi ho paa raha
Mene le b liye web devement k under, brantford campus, joki ONtario mai hai, Tech hub Ontario mai hi hai.
Very informative thanks 👍🏼...
I'll use your referral code. thank me later ;)
Hy can You please send me the sample of GIC certificate of cibc because I got the conformation letter today but the invoice calculation is showing 9985$ in my account and conformation letter shows 10000$ so please will u send me copy of sample certific ate please.
Sir ,Which Canadian universities ask for gre score for MS in mechanical engineering. Is there any advantage of taking gre .
(For Canada only): Atmost 2 - 4 universities have mandatory / highly recommended GRE score requirement for only M.Eng. But, in case of MASc GRE is not required. I'm not sure, the University of Toronto has mandatory requirement for both. Please do check the websites of top ranking universities and you got your answer very accurate.
Keep it up bro
Thankyou so much
Can I pay my gic from my father account
Bhai referral code valid hai ya expired ho gaya aur milega na pakka. 25$😅
Great Video, I checked on Scotia Bank website, it was clearly mentioned that you have to pay through your bank account for GIC, you cannot pay through your friends, family members or any other forex company. In my case, I have taken the loan from bank and bank is ready to pay my GIC directly. Could you please confirm if I can ask my bank to pay on my behalf to CIBC bank for GIC
Bank will also pay by opening account exclusively at your name
Bro do we have to pay income tax for tution and gic amount having in Bank because however it'll be more than 10 lackhs does it deducted by the bank
@@abi7749 No income tax
@@nalinakshagangwar6974 are you sure we need not pay extra tax
@@MehboobKhan-xt1yc yes
My file is non sds ,and I pay GIC
Will I've to show bank statement of my parents along with ITR of one year
In Non SDS, you have to show the proof of payment for fees, like bank balance. So you just have to convince them you have sufficient funds.
Like as you described a way to pay your gic in inr is there also a way to pay you college fee in inr?
That's the issue bro!
You will find companies like flywire, but they are remittance company only!
@@knowgambhir988 Bro are you really really sure that, if we pay the GIC amount to INR to bank, NO 5% Tax will be deducted? This question really confuse lot of people. Please replay as I m going to pay my GIC in 1-2 days.
@@codelone Bro, can you share your experience please? Did TCS got cut while paying in INR?
Hi Brother, is it better to pay in INR or CAD $? and what is your refer code, is it your email?
INR as you get to save in conversion charges charged by the bank at source
Have u reached canada?
CIBC has one option at the bottom of the form, it says "I confirm that i have made a foreign exchange transaction under the "Liberalized Remittance Scheme"" if we select Yes then it asks for previous payments made, if i enter those details, will 5% TCS be deducted or not, please explain!
Which option to choose to save some money??
Is anyone has answer of his question?
Good sir👍🏻
Thankyou Unnati
What if I pay my gic from another bank account do i need to pay TCS on that
no, pay only from the student account, anotherwise you visa will be rejected!
I LOVE YOU BROOOO