TAX CLEARANCE CERTIFICATE REQUIREMENT FOR INDIAN CITIZENS

From the past few days there are a lot of news articles that have been

published in relation to Tax Clearance Certificate Requirement for Indians

Travelling Abroad, which are confusing the actual tax guidelines creating a

chaos among various assessees.

To begin with, it is pertinent to note that nothing new has been proposed by the

Hon’ble FM of India in this regard.

In fact, they have just proposed to insert the reference of liabilities under Black

Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 .

Furthermore, the said requirement is only when the Assessing Officer after recording

reasons, deems it necessary for the assessee to obtain the said TCC, that too, with the

prior approval of Principal Chief Commissioner or Chief Commissioner of Income Tax.