New Delhi, April 22 -- I am an NRI living in UK. I own a residential property in Mumbai, which I have been renting out for the last 5 years. The rental income is paid by the tenant into my foreign bank account. My tenant is now asking for my UK address and Tax ID number saying that this is a new requirement from 1 April 2026. Is this correct?

The Income-tax Act, 1961 has been repealed and replaced by the Income-tax Act, 2025, along with the substitution of the Income-tax Rules, 1962 by the Income-tax Rules, 2026.

In cases where a foreign remittance is chargeable to tax in India, the aggregate amount exceeds Rs.5 lakh during a financial year, and no order or certificate has been obtained from the Assessing Officer for lower or nil withho...