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Tax provisions when rent received through foreighn funds

This query is : Resolved 
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(Querist)
28 October 2011 Dear Sir/Madam,

One of Client has let out his house property to a foreign citizen and he is agreed to pay the rent through foreign funds is there any special provisions as per Income Tax Act 1961 which attracts the same.

The tenant is not having any bank account in India and he is making all the payments through foreign bank account
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Sijo Philip

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Sijo Philip (Expert)
28 October 2011 Dear Raghu,

1. Since the property is located in India, the rental income shall be taxable under House Property.
2. Regarding payment through their foreign fund the IT Act is silent: But FEMA regulations shall be checked in this regard.
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