US Plans 5% Tax on Sending Money to India: NRIs Brace for Impact
TL;DR:A proposed US bill may impose a 5% tax on foreign remittances starting July 2025 (Source), directly affecting non-citizen residents like H-1B workers, students, and green card holders. This could cost Indian families up to $1.7 billion annually and disrupt $32 billion in yearly remittances from the US to India. Even small transfers will be […]
US Plans 5% Tax on Sending Money to India: NRIs Brace for Impact Read More »