Delhi will not tax remittances sent home by Indian expats

India has decided not to tax remittances sent home, as a new Bill taxing money leaving the country came into effect. Since October 1, a tax of 5% is being imposed on money remitted overseas from India, and non-resident Indians (NRIs) were worried about having to possibly pay taxes for money sent to the country. Reassuring NRIs in Oman, Zachariah PS, the general manager for Musandam Exchange, an exchange house in the country, said this tax would not affect people waiting back home to receive funds from Oman and other countries. "There will be no impact on the money people send to In...