Transactions by CA CS and Cost Accountants for client covered under PMLA Notification dated 03.05.2023
MINISTRY OF FINANCE
(Department of Revenue)
NOTIFICATION
New Delhi, the 3rd May, 2023
S.O. 2036(E).—In exercise of the powers conferred by sub-clause (vi) of clause (sa) of sub-section (1) of
section 2 of the Prevention of Money-laundering Act, 2002 (15 of 2003), the Central Government hereby notifies that
the financial transactions carried out by a relevant person on behalf of his client, in the course of his or her profession,
in relation to the following activities-
(i) buying and selling of any immovable property;
(ii) managing of client money, securities or other assets;
(iii) management of bank, savings or securities accounts;
(iv) organisation of contributions for the creation, operation or management of companies;
(v) creation, operation or management of companies, limited liability partnerships or trusts, and buying
and selling of business entities,
shall be an activity for the purposes of said sub-section.
Explanation 1.- For the purposes of this notification ‘relevant person’ includes –
(i) an individual who obtained a certificate of practice under section 6 of the Chartered Accountants
Act, 1949 (38 of 1949) and practicing individually or through a firm, in whatever manner it has been
constituted;
(ii) an individual who obtained a certificate of practice under section 6 of the Company Secretaries Act,
1980 (56 of 1980) and practicing individually or through a firm, in whatever manner it has been
constituted;
(iii) an individual who has obtained a certificate of practice under section 6 of the Cost and Works
Accountants Act, 1959 (23 of 1959) and practicing individually or through a firm, in whatever
manner it has been constituted.
Explanation 2.- For the purposes of this notification ‘firm’ shall have the same meaning assigned to it in
sub-clause (i) of clause (23) of section 2 of the Income-tax Act, 1961 (43 of 1961).
[F. No. P-12011/12/2022-ES Cell-DOR]
SHASHANK MISRA, Director (Headquarter)
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