FM Sitharaman tables revised Income Tax Bill in Parliament to enhance fairness, clarity

August 11, 2025 3:14 PM

FM Sitharaman tables revised Income Tax Bill in Parliament to enhance fairness, clarity

Union Finance Minister Nirmala Sitharaman on Monday introduced a revised version of the Income Tax Bill, 2025 in the Lok Sabha, incorporating most of the recommendations made by the Parliamentary Select Committee headed by BJP leader Baijayant Panda. The introduction took place amid Opposition uproar. Tabling the bill, Sitharaman said that the changes were necessary to convey the correct legislative meaning. “There are corrections in the nature of drafting, alignment of phrases, consequentia...

Tax clearance certificate to fly abroad not mandatory for all, govt clarifies

July 28, 2024 5:42 PM

Tax clearance certificate to fly abroad not mandatory for all, govt clarifies

The Indian government has issued a clarification regarding recent misleading reports about mandatory tax clearance for individuals traveling abroad. The Central Board of Direct Taxes (CBDT) said on Sunday that not every person is required to obtain a tax clearance certificate under section 230 of the Income-tax Act, 1961. This clarification comes in response to concerns raised after the Budget 2024-25, presented by Finance Minister Nirmala Sitharaman on July 23, proposed including the Black Mo...