Review Time
While the exchange rate is attractive, the quality of professional service is concerning. Payments to an Indian account are not handled directly, but seem to go through an IT company, which could have tax consequences.
They are not going to deposit the money into an NRE account. They debited my money from my account and cannot credit it back to my account—bad customer support. More than two days have passed, and theyhave not been able to resolve the issue. I won't feel they're genuine.
Every transaction is reported to income tax and we have to file the tax returns in India.Because it is shown as capital gains instead of foreign remittance.Remit2Any is showing a 1% credit for Section 194S because of the method used to remit your funds to India, even though the source is foreign salary. Section 194S is a specific Indian tax provision for Tax Deducted at Source (TDS) on the transfer of Virtual Digital Assets (VDA) like cryptocurrency.
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At Remit2Any, our mission is to revolutionize cross-border transactions by seamlessly connecting individuals and businesses. We prioritize compliance, offering a secure platform that ensures regulatory adherence. With a commitment to transparency, we provide fee-free transfers, empowering users to effortlessly move digital assets globally. Our vision is to redefine the landscape of international finance, making financial connectivity both compliant and frictionless.See more
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