linkage of Aadhaar number to Insurance Policies is mandatory under the Prevention of Money-laundering (Maintenance of Records) 2nd Amendment Rules 2017-IRDAI
INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA
Ref : IRDAI/SDD/MISC/CIR/248/11/2017
Dated: 8th November, 2017
CIRCULAR
To Life and General lnsurers (lncluding Standalone Health lnsurers)
Central Government vide gazette notification dated st June 2017 notified the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017 making Aaadhar and PAN/Form 60 mandatory for availing financial services including Insurance and also for linking the existing policies with the same.
The Authority clarifies that, linkage of Aadhaar number to Insurance Policies is mandatory under the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules,2017.
These Rules have statutory force and, as such, Life and General Insurers (Including Standalone Health Insurers) have to implement them without awaiting further instructions.
(Member Life)
When AO invoked provisions of section 37(1) to disallow purchases, provisions of section 69C of the Act are not applicable…
ITAT refuses to accept opening cash as source of cash deposit as assessee was not subject to audit and cash…
Mere preparation of income tax notice and forwarding the same for dispatch is not effective issuance of notice until it…
Agreement validly terminated prior to initiation of CIRP did not constitute “assets” or “property” of the corporate debtor u/s 14…
Supreme Court explains jurisdiction of courts under NI Act for dishonour of account payee or bearer cheques In a recent…
Advances received in normal course of business and adjusted against sale bills cannot be added u/s 68 of the Income…