What will be the effects on selling my US investment and withdrawing the investment due to Trump’s new one big beautiful plan regarding foreign remittance being charged 5%?
Key Clarification: posted by Indmoney
If an Indian resident investor sells U.S. stocks and transfers the proceeds directly from a U.S. brokerage account to their Indian bank account, this is considered investment repatriation, not a remittance, and is not subject to the 3.5% excise tax.
We don’t believe it will impact investment withdrawals for Indians investing in the US since the ‘sender’ in the bill is defined as per the EFTA which is a consumer in a US state sending money for personal, family or household purposes. In our case the sender is not in a US state and is not withdrawing for any of the stated purposes
1 Like