The recent amendment to Section 230(1A) of the Income-tax Act, 1961, does not require all Indian citizens to obtain an income-tax clearance certificate (ITCC) before travelling to other countries, the Central Board of Direct Taxes (CBDT) has said in clarification issues in response to widespread misinformation.
According to CBDT, the amendment, introduced through the Finance (No. 2) Act, 2024, only incorporates references to the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (the ‘Black Money Act’).
“This insertion has been made to also cover the liabilities under the Black Money Act in the same manner as the liabilities under the Income-tax Act,1961 and other Acts dealing with direct taxes for the purpose of Section 230(1A) of the Income-tax Act,1961,” said CBDT in the statement.
First Published: Aug 20 2024 | 9:42 PM IST
