India just recorded a current account surplus of $13.5 billion (1.3% of GDP) in the January-March quarter of FY25, according to the RBI. This is a significant jump from $4.6 billion in the same period last year and reverses a deficit of $11.3 billion in the previous quarter. What drove this surplus? Annual Picture for … Read more
US Remittance Tax: A Hefty New Bill for NRIs Sending Money Home to India New Delhi, India – Sending money home to India could soon become significantly more expensive for Non-Resident Indians (NRIs) in the United States. A proposed 3.5% remittance tax, already passed by the US House of Representatives on May 22, 2025, looms … Read more
New US Tax Could Impact Money Transfers to India Good news for NRIs sending money home: a proposed 3.5% excise tax on remittances from the US is currently under deliberation. If enacted, this tax could make sending money to India more expensive. This tax, part of the “One Big Beautiful Bill” that has passed the … Read more