The Ministry of Finance, Department of Revenue has issued a Notification vide F. No. P-12011/12/2022-ES Cell-DOR dated May 03, 2023 notified the amendment to Section 2 of the Prevention of Money-laundering Act, 2002 (15 of 2003) (“the PMLA Act”). As per the amended norms, financial transactions carried out by practising CA/CS/CMA on behalf of their clients will now fall under the scope of the PMLA Act.
The Notification can be accessed at: https://egazette.nic.in/WriteReadData/2023/245631.pdf