Tax provisions when rent received through foreighn funds
This query is : Resolved
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
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
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.
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Disallowance of Section 43B(h) to sez units
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
