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Income tax clearance now mandatory to leave India

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www.businesstoday.in

Union Budget 2024: Income tax clearance now mandatory to leave India

Any person domiciled in India would require an income tax clearance certificate to leave the country. Rule to take effect from October 1, 2024.
www.businesstoday.in www.businesstoday.in

The Finance Bill, 2024 has mandated that any person domiciled in India would require an income tax clearance certificate to leave the country. Clause 71 of the Bill seeks to amend section 230 of the Income-tax Act relating to tax clearance certificates. This amendment will take effect from 1st October, 2024.
 
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www.businesstoday.in

Income tax clearance mandatory to leave India? Centre issues a clarification. Here's what it says

Responding to the reports, which created a significant stir, the CBDT said Section 230 does not mandate every individual domiciled in India to secure a tax clearance certificate before departure.
www.businesstoday.in www.businesstoday.in


The requirement applies only under specific circumstances. According to the CBDT’s Instruction No. 1/2004, dated February 5, 2004, a tax clearance certificate is necessary only for individuals involved in serious financial irregularities or those with significant direct tax arrears exceeding Rs. 10 lakh, provided these arrears have not been stayed by any authority.
 
superstar@123 said:
www.businesstoday.in

Income tax clearance mandatory to leave India? Centre issues a clarification. Here's what it says

Responding to the reports, which created a significant stir, the CBDT said Section 230 does not mandate every individual domiciled in India to secure a tax clearance certificate before departure.
www.businesstoday.in www.businesstoday.in


The requirement applies only under specific circumstances. According to the CBDT’s Instruction No. 1/2004, dated February 5, 2004, a tax clearance certificate is necessary only for individuals involved in serious financial irregularities or those with significant direct tax arrears exceeding Rs. 10 lakh, provided these arrears have not been stayed by any authority.
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Great and welcome move by the Government!

Seen unnecessary ranting, without even knowing about it and stretching it to death 🤣 🤣 🤣 🤣
 
Kya GIF by Zee Studios
 
telescope said:
www.businesstoday.in

Union Budget 2024: Income tax clearance now mandatory to leave India

Any person domiciled in India would require an income tax clearance certificate to leave the country. Rule to take effect from October 1, 2024.
www.businesstoday.in www.businesstoday.in

The Finance Bill, 2024 has mandated that any person domiciled in India would require an income tax clearance certificate to leave the country. Clause 71 of the Bill seeks to amend section 230 of the Income-tax Act relating to tax clearance certificates. This amendment will take effect from 1st October, 2024.
Click to expand...
Our FM is taking ideas from high rise community rules, appears some aunty group leaking the news to her,.,
Clear Maintenance Dues before leaving the society or before selling your flat.
Transfer corpus funds.. etc. etc.

Comedy Never Have I Ever GIF by NETFLIX
 
telescope said:
www.businesstoday.in

Union Budget 2024: Income tax clearance now mandatory to leave India

Any person domiciled in India would require an income tax clearance certificate to leave the country. Rule to take effect from October 1, 2024.
www.businesstoday.in www.businesstoday.in

The Finance Bill, 2024 has mandated that any person domiciled in India would require an income tax clearance certificate to leave the country. Clause 71 of the Bill seeks to amend section 230 of the Income-tax Act relating to tax clearance certificates. This amendment will take effect from 1st October, 2024.
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*Terms and Conditions applied.


*Not applicable for ultra-rich Indians who would borrow thousands of crores of money and be friends with *cough* *cough* Supreme Leader ji.
 
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