⚡Relief for NRI’s: US Senate Reduces Remittance Tax to 1% From 3.5%

The US Senate has proposed to reduce remittance transfer tax from 3.5 per cent to just 1 per cent, offering considerable relief to non-resident Indians (NRIs). The revised draft of US President Donald Trump’s 'One Big Beautiful Bill Act" excludes transfers from accounts held at banks and other financial institutions