: H1-B : How to invest money outside the USA I am an H1-B visa holder in the US. I would like to start investing some money here in the US and also in India, my home country. Are there any IRS regulations I should be aware

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Are there any IRS regulations I should be aware of when sending money to India?

None. As long as you are following the standard banking channels. You are also declaring all the accounts held outside US in your tax returns. FBAR.

Is it legal to do so?

Yes it is legal.

do I have to declare how much I am investing and pay extra taxes?

As part of FBAR. Income earned [including interest, capital gains, etc] needs to be paid in India [there are some exemptions for example interest on NRE accounts] as well as in the US [relief can be claimed under DTAA Indian version here and US here]. So if you already have paid taxes on salary and say transfer USD 10K to India; there is no tax on this 10K. If this 10K generates an income of say 2K; this 2K is taxable as per normal classification and rules.