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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Amended Income-tax Act Section 230: Tax Clearance Needed for Indians with Serious Financial Issues Exceeding Rs. 10 Lakh.</h1> Section 230 of the Income-tax Act, 1961, amended by the Finance Act, 2003, requires persons domiciled in India to provide specific information when leaving the country. However, in exceptional cases, a tax clearance certificate may be necessary. This applies if a person is involved in serious financial irregularities or has direct tax arrears exceeding Rs. 10 lakh. Approval from the Chief Commissioner of Income-tax is required before demanding such a certificate. If deemed necessary, the Assessing Officer will notify immigration authorities to enforce this requirement. These instructions should be communicated to relevant parties.
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