The Ministry of finance vide its notification dated 13th April 2020 has published the Prevention of Money-laundering (Maintenance of Records) 2nd Amendment Rules, 2020 to further amend the Prevention of Money-laundering (Maintenance of Records) Rules, 2005.
The Principal Officer of a reporting entity shall furnish the information every month to the director by 15th day of the succeeding month in respect of transactions of value more than rupees ten lakhs or transactions involving receipts by non-profit organisations of value more than rupees ten lakh.
However, through this amendment, the reporting officer shall furnish the information by 30th June 2020.
Click here to read the Notification.
