Remittances To India May Fall Amid US Tax

New Delhi: A proposed 5 per cent US tax on remittances sent abroad by non-citizens is raising alarm in India as it may hit Indian households and the rupee, economic think tank GTRI said on Sunday.

The provision is part of a broader legislative package titled ‘The One Big Beautiful Bill’ introduced in the US House of Representatives on May 12. It targets international money transfers made by non-US citizens, including green card holders and temporary visa workers like those on H-1B or H-2A visas.