Trump government's gift to overseas Indians! Overpayment tax reduces to 1%, know which transactions do not have to pay a single rupee tax

There is relief for millions of Indians working in America. Not only that, if an Indian NRI bank applies via an account, debit or credit card, it will be taxed. 0. The tax tax was reduced by amending the one Big Beautiful Bill Act. The already proposed tax of 3.5% was reduced to just 1% for the transfer of money to the revised concept of one large beautiful account. This move from the Trump government has brought relief millions of Indians living in America. The bill was approved by the US House of Representatives. The Republican Senate released an updated concept of the bill on June 27. After the debate, it will be sent to the president for signature after the bill was passed from the Senate. This process is expected to be completed by July 4th. If you send money in this way, then the remedy tax according to the revised account released at 1% on June 27, 2025 is reduced from the already proposed 3.5% to just 1%. In this, the money sent by bank accounts, debit or credit cards gets a complete discount on this tax. But if you send money through cash, money, cashier check or other similar physical ways, you have to pay 1 percent tax for this. But if you also want to avoid it, you should send money through the debit or credit card or any financial institution account in the US. The amendment of the one great beautiful bill is particularly beneficial for non -residents -Indians (NRIs). Millions of Indians live and work in the US and send money to their families every month. In such a situation, this revised bill brought him a sigh of relief. Relief for the Indian community, international tax experts say the move brought great relief to the Indian community living in the US. Grant Thornton India’s US tax partner Lloyd Pinto said: “The tax tax was reduced from 3.5% to 1% in the latest concept of the Senate. The debit/credit cards made by the accounts or US banks were also taxed. This bill lowers to 2025. 3.5%.