Page 5 - Remittances

Decoded: 5%  tax on foreign fund transfers that may go up to 10% for some

For education-related foreign remittances funded by loans, though, the tax will be just 0.5% for amount above Rs 7 lakh, but will go up to 5% if PAN is not provided

UP is the new Kerala in terms of remittances from Indians in the Gulf

The northern state houses 21 of the top-50 districts from where most low-skilled Indians go overseas for employment, followed by Bihar with seven; Kerala has only one

Pakistan looks to citizens overseas to pump up its forex reserves

The plan involves allowing non-resident Pakistanis to open digital accounts starting next week to allow the diaspora to invest in one of Asia's best-performing stock markets

ADB sees coronavirus slashing 2020 global remittances by over $100 bn

Remittances to Asia and the Pacific, which amounted to $315 billion in 2019, help fuel the consumption-led growth for some of the region's developing economies, including the Philippines

Kerala to train, export health workers; capitalise on remittances: FM Isaac

'There will be demand for Kerala nurses and paramedics all over the globe,' says Finance Minister Thomas Isaac

Economy may witness more pain as workers return and remittances fall

Getting back to their jobs abroad is uncertain for most workers now. This is particularly true for the Gulf region, from where over 60 per cent of India's remittances flow in

Remittances: Pain for India, China with Covid-19 striking across the world

The data reflects an overall increase in remittances in recent decades, from $126 billion in 2000 to $689 billion in 2018

Letter to BS: Govt should postpone Finance Bill provisions for NRIs

This will provide relief to the thousands of hard-working Indians who work abroad and remit their savings to the country every year

Letter to BS: Tax on remittances is absurd as the source is already taxed

On the one hand, the government wants to simplify tax rules, while on the other, it has introduced a measure that will complicate it

Budget proposal on remittances abroad triggers fears of double taxation

5% to be paid on already taxed income

$118.3 bn received in remittances since 2018-19: Govt to Lok Sabha

According to the data received from Indian missions, there are an estimated 13.62 million Indians abroad

India to retain top position in remittances with $80 bn: World Bank

The Bank estimates that officially-recorded remittances to developing countries will increase by 10.8 per cent to reach $528 billion in 2018

Rupee slump may boost remittances to a record high of $76 billion in 2018

A global emerging-market sell-off that's triggered outflows from Indian bonds and stocks saw the rupee setting a string of fresh lows earlier this month

India receives $69 bn in remittances from its diaspora, retains top spot

Kerala topped the share of remittances (40%) with the number of workers sending money to the state increasing in five years to 2014

India highest recipient of remittances at $69 billion, says World Bank

Global remittances are expected to grow 4.6 per cent to $642 billion in 2018 but longer-term risks to growth of remittances include stricter immigration policies

India receives $235 billion in remittances in three-and-half years

The volume of remittances in the first six months of the current fiscal was $30.43 billion

Remittances to India to decline by 5% in 2016: World Bank

This is attributed mainly due to weak economic growth in remittances-source countries and cyclic low oil prices

Problems for NRIs remitting salary to India

Interest on NRE accounts is tax-free, but the I-T department creates hurdles to tax these accounts

As India reaps benefits of cheap oil, Gulf remittances take a toll

Low oil prices take a hit on Gulf's economy, forcing it to retrench Indian workforce, which have hit remittances

India world's largest recipient of remittances in 2015: World Bank

This despite a $1 bn drop in remittances from previous year