Time extended for banking companies to furnish monthly information under PMLA
MINISTRY OF FINANCE
(Department of Revenue)
NOTIFICATION
New Delhi, the 13th April, 2020
G.S.R. 251(E).—In exercise of the powers conferred by section 73 read with section 11A and section 12AA of the Prevention of Money-laundering Act, 2002 (15 of 2003), the Central Government hereby makes the following rules further to amend the Prevention of Money-laundering (Maintenance of Records) Rules, 2005, namely:—
1. (1) These rules may be called the Prevention of Money-laundering (Maintenance of Records) 2nd Amendment Rules, 2020.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In rule 8 of the Prevention of Money-laundering (Maintenance of Records) Rules, 2005, after sub -rule (4), the following sub-rule shall be inserted namely: –
“(5) Notwithstanding anything contained in sub-rule (1) and (3) the Reporting Officer shall furnish the information specified therein by the 30th June, 2020”
[F. No. P-12011/18/2019-ES Cell-DOR]
RITVIK PANDEY, Jt.Secy.
Note:The principal rules were published in Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 444 (E), dated the 1st July, 2005 and were last amended vide number G.S.R. 228(E), dated the 31st March, 2020.
- AO is under an obligation to assign reasons for rejecting explanation of the assessee
- CBIC issues SoP for clearance of imported goods through Foreign Post Offices
- Sale deed executed with full knowledge of only part consideration paid, not void – SC
- No fault in serving notice to last known address when PAN data was not updated – ITAT
- Investment by firm through capital introduced by partners cannot be treated as unexplained
