Remittances
Rules on sending money to and from India, including foreign taxes on transfers.
- 12:00 pm IST
US 1% remittance tax: cash-funded transfers to India are taxed, bank and card transfers are not
Section 4475 has taxed some remittances from the US since 1 January 2026. Proposed IRS rules of April 2026 spell out which transfers to India pay the 1%.
Source: US Treasury and IRS, proposed regulations REG-114499-25, Excise Tax on Remittance Transfers, Federal Register, 13 April 2026