Tax clearance certificate requirement now covers Black Money Act liabilities, affecting exit permissions from India. The amendment adds liabilities under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 to the list of tax statutes ... Summary
Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
Tax clearance certificate requirement now covers Black Money Act liabilities, affecting exit permissions from India.
The amendment adds liabilities under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 to the list of tax statutes whose outstanding liabilities may render it necessary for a person domiciled in India to obtain a tax clearance certificate before leaving the country, while preserving the proviso requiring recorded reasons and prior approval of the Principal Chief Commissioner or Chief Commissioner; the amendment takes effect from 1 October 2024.
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