Remittances tax: How Donald Trump’s ‘The One Big Beautiful Bill’ may turn out to be ugly for Indians in the US
[ad_1] Indians sending money from the US back home may have to pay a 3.5% remittance tax. US President Donald Trump’s ‘The One Big Beautiful Bill’ may actually turn out to be ugly for Indians living in the US. By 2026, Indians sending money from the US back home may have to pay a 3.5% remittance tax. ‘The One Big Beautiful Bill’ carries significant implications for many Indian residents in the United States, including H-1B visa holders and permanent residents. International money transfers from the United States to India might become more expensive by 2026 if President Donald Trump's proposed legislation receives approval. The extensive 1,116-page 'One Big Beautiful Bill', which includes tax modifications and expenditure reductions, has received House approval and awaits Senate consideration. The final vote is anticipated in late June or July, with implementation contingent upon passage. […]