Bank on It: NRIs Dodge 1% Remittance Tax with Senate’s Smart Exemption

Unknown Apr 02, 2026 900 Views

In a major relief for NonResident Indians (NRIs) in the United States, the US Senate has passed a revised version of the One Big Beautiful Bill Act, introducing a 1% remittance tax—but with a crucial exemption: transfers made through banks and regulated financial channels will not be taxed....