Yes, REMITTING is a Scrabble word!

Letter values in Scrabble US: R 1, E 1, M 3, I 1, T 1, T 1, I 1, N 1, G 2.

Is it a valid word?

REMITTING is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

send (money) in payment
hold back to a later time
release from (claims, debts, or taxes)
refer (a matter or legal case) to another committee or authority or court for decision
forgive
make slack as by lessening tension or firmness
diminish or abate

Also: hold over, put over, set back, put off, send back.