3.5% remittance tax: Sending money from US to India to upset many; here's what NRIs can do to save tax on remittances

An upcoming US bill imposes a 3.5% tax on remittances sent by non-citizens, impacting Indians who are a significant portion of the US immigrant population. This tax, aimed at protecting US dollar outflow, may affect investments and corporate mobility programs. Experts suggest it could discourage remittances to India and prompt increased US investments.

from Tax-Wealth-Economic Times https://ift.tt/U1ECSe2