Sir Is there any new taxation imposed on foreign currency (Like USD) transaction from obroad to India? If so what is the percentage of tax? Recently I transferred USD 3,500.- to my NRE account by TT from Saudi Arabia. (My bank is South Indian Bank) They deducted about Rs. 650.- and the remaining credited to my NRE account. The bankers informed me that the deduction of the 650.- is the new tax on foreign currency. On the other hand, a friend of mine did the same transfer to SBI, but he lost only Rs. 25.- Is there any way to get out of this regulation as I have to transfer USD every month. Thank you very much for your assistance in this matter Truly Nooruddeen nooruddeen.m@industrial.initec.es