CBDT issues clarification in respect of Income-tax clearance certificate (ITCC).
It is being erroneously reported that all Indian citizens must obtain ITCC before leaving the country. This position is factually incorrect.
Vide Finance (No.2) Act, 2024, Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 ( the ‘Black Money Act’) has been added to the list of Acts u/s 230(1A) of the Income-tax Act, 1961, whereby any resident leaving the country is required to obtain a tax clearance certificate in certain circumstances.
This insertion has been made only to cover the liabilities under the Black Money Act.
The copy of the order is as under:
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