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US Proposes New Bill: This news is going to disappoint for millions of Indians living in America. Now NRIs living in America can levy an additional tax of 5 percent to send money to their home. These taxes will have to be paid to those who have been people from other countries including H1B visa holders and green card holders. After this bill is passed in the US Parliament, millions of Indians will have an impact, who work there and regularly send money from their homes.
The bill, brought with the title ‘The One Big Beautiful Bill’, has been released recently by the US House Wage and Means Committee. On the 327th page of this 389 -page documents, the provision of imposing 5 percent tax has been mentioned on transfer of all such money. However, there is no mention of minimum money in it.
Now you will have to pay tax on sending money from America
This means that now even after sending less money from America, he will have to pay tax, if he is not an American citizen or he has not got American citizenship. This tax will be deducted from where the money will be transferred. Significantly, a large number of Indians live in America.
India is also included in the list of top countries to be sent the highest money from NRI. According to a survey by the Reserve Bank of India released in March of 2024, Indians living in the US during the year 2023-24 sent $ 32 billion from there to their families and relatives in their country.
Around 45 million Indians in America
According to an estimate of the Ministry of External Affairs, about 45 lakh Indians are currently living in America. Of these, 32 lakh people are of Indian origin.
