Brief by Shorts91 Newsdesk / 10:50am on 03 Jul 2025,Thursday India Global
US President Donald Trump’s major tax bill, called the “Big, Beautiful Bill,” is waiting for a final vote in the House. The bill has sparked debate over cuts to welfare and rising national debt. A key update brings good news for Indians in the US. The tax on sending money abroad, including to India, has been reduced to 1%, down from 5%. This change helps NRIs, H-1B workers, and students. The tax applies to remittances sent through cash or money orders. Transfers from US bank accounts or using debit and credit cards will be exempt under the new draft. (PC: NDTV)
