CMA Intermediate · Direct and Indirect Taxation · PAN
Under the Income-tax Act, 2025, a person who is domiciled in India at the time of departing from India must furnish certain particulars to the prescribed authority. Which of the following is one of the particulars that such a person must furnish under the tax clearance provisions?
A person domiciled in India leaving the country must furnish the PAN allotted to him, the purpose of his visit outside India and the estimated period of his stay abroad. A no-liability certificate is not required in every case, only where circumstances warrant it in the authority's opinion.
- AThe Permanent Account Number allotted to him, the purpose of his visit abroad and the estimated period of his stay outside IndiaCorrect
- BHis foreign bank account number and the name of his overseas employer
- CA certificate of no liability under the Wealth-tax Act, 1957 in every case
- DHis passport number and the amount of foreign exchange he is carrying
Explanation
Section 420(3) requires every person domiciled in India at departure to furnish the PAN allotted under section 262, the purpose of the visit abroad and the estimated period of stay outside India. A no-liability certificate under sub-section (5) is needed only where an income-tax authority considers circumstances to exist, not in every case, so option C is wrong.
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