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Amendment to include the reference of Black Money Act, 2015 for the purposes of obtaining a tax clearance certificate The existing provisions of sub-section (1A) of section 230 of Act specify that, inter-alia, no person who is domiciled in India, shall leave India, unless he obtains a certificate f
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FAQ :
The Tax Clearance Certificate process now explicitly includes liabilities arising under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.
This amendment takes effect from the 1st day of October, 2024.
Individuals domiciled in India generally need to obtain a certificate stating they have no outstanding liabilities under various tax acts, or have made satisfactory arrangements for payment, before leaving India.
Previously covered acts included the Income-tax Act, 1961, the Wealth-tax Act, 1957, the Gift-tax Act, 1958, and the Expenditure-tax Act, 1987.
A certificate may be required if circumstances exist which, in the opinion of an income-tax authority, make it necessary for a person to obtain one.
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