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of <h1>Union Budget 2024-25: Amendment to Section 230(1A) Requires Tax Clearance for Indians Leaving Country.</h1> The Union Budget 2024-25 proposes an amendment to section 230(1A) of the Act, requiring individuals domiciled in India to obtain a tax clearance certificate before leaving the country. This certificate ensures no outstanding liabilities under various tax acts, including the Income-tax Act, Wealth-tax Act, Gift-tax Act, and Expenditure-tax Act. The amendment will now include liabilities under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015. This change mandates that income-tax authorities must record reasons and obtain prior approval before requiring the certificate. The amendment takes effect on October 1, 2024.
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