Money laundering
This query is : Resolved
10 January 2014
please help me in understanding about what is money laundering
10 January 2014
Dear aliya,
in basic words, money laundering is a process of moving money while concealing the source of the said money...
all the rules and regulations formed such as quoting PAN, limit on cash transaction etc are made to ensure that transactions are routed to through banking channels; through AIR and PAN, these transactions are further linked to ensure that sources are found and ensured that no illegal or tainted money is allowed to move scot free.
in basic words, money laundering is a process of moving money while concealing the source of the said money...
all the rules and regulations formed such as quoting PAN, limit on cash transaction etc are made to ensure that transactions are routed to through banking channels; through AIR and PAN, these transactions are further linked to ensure that sources are found and ensured that no illegal or tainted money is allowed to move scot free.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Advantages and disadvantages new income tax act 2025 question
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
