Dealers in precious / stones and real estate agents notified under the PMLA (Maintenance of Records) Rules 2005
Finance Ministry notifies dealers in precious / stones and real estate agents under the Prevention of Money-laundering (Maintenance of Records) Rules 2005
The following category of persons has been notified :
(a) Dealers in precious metals, precious stones as persons carrying on designated businesses or professions –if they engage in any cash transactions with a customer equal to or above Rupees ten lakhs, carried out in a single operation or in several operations that appear to be linked.
(b) Real Estate Agents‖, as a person engaged in providing services in relation to sale or purchase of real estate and having annual turnover of Rupees twenty lakhs or above, as persons carrying on designated businesses or professions.
Further the Finance Ministry has notified Prevention of Money-laundering (Maintenance of Records) Fourth Amendment Rules, 2020 to notify Central Board of Indirect Taxes and Customs as reporting authority with respect to the above categories
It can never be the object of assessment proceedings to find an empirically, absolutely correct solution on every fact issue…
Penalty u/s 270A deleted as assesse filed revised computation during scrutiny correcting the mistake which was noticed only after the…
Penalty u/s 271B for unfilled column 40 in Form 3CD related to details regarding turnover, gross profit etc. for previous…
Merely rectifying computation without amending assessment order without notice to assessee does not nullify the entire assessment - ITAT In…
Once assessee discharges primary onus of providing basic documents in support of the identity, genuineness and the creditworthiness it shifts…
CBDT has notified Cost Inflation Index for Financial Year / Tax Year 2026-27 CBDT has notified "384" as Cost Inflation…