MUMBAI: The Budget has tightened the provisions regarding clearance certificates which might be required when departing from India. From October 1, a clearance certificates giving a clear chit beneath the Black Cash Act might be required for individuals domiciled in India, who’re leaving India.
At current, beneath part 230 of the Earnings-tax (I-T) Act, an individual domiciled in India can not depart with out acquiring a certificates from the tax authorities that they don’t have any excellent tax liabilities or have made passable preparations to pay such dues.
This is applicable to taxes beneath the I-T Act, the erstwhile Wealth tax and Present tax Act and likewise the Expenditure Tax Act. Such a certificates is required to be obtained the place circumstances exist which, within the opinion of an income-tax authority, render it needed for such an individual to acquire the identical.
Tax consultants are of the view {that a} notification or the foundations that may comply with, will higher clarify the necessities.
At current, beneath part 230 of the Earnings-tax (I-T) Act, an individual domiciled in India can not depart with out acquiring a certificates from the tax authorities that they don’t have any excellent tax liabilities or have made passable preparations to pay such dues.
This is applicable to taxes beneath the I-T Act, the erstwhile Wealth tax and Present tax Act and likewise the Expenditure Tax Act. Such a certificates is required to be obtained the place circumstances exist which, within the opinion of an income-tax authority, render it needed for such an individual to acquire the identical.
Tax consultants are of the view {that a} notification or the foundations that may comply with, will higher clarify the necessities.
