The Central Government has notified that Real Estate Agents will be referred to as "persons carrying on designated businesses or professions". Read the official announcement below:
MINISTRY OF FINANCE
(Department of Revenue)
NOTIFICATION
New Delhi, the 28th December, 2020
G.S.R. 798(E).—In exercise of the powers conferred by sub-clause (iv) 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 rescinds the notification of the Government of India, Ministry of Finance, Department of Revenue, No. 8/2017, dated 15 November, 2017, published in the Gazette of India, Part II, Section 3, Sub-section (ii), extra-ordinary, vide GSR 1423 (E) dated the 16 November 2017, except as respects things done or omitted to done before such recession and notifies the "Real Estate Agents", as a person engaged in providing services in relation to sale or purchase of real estate and having annual turnover of Rupees twenty lakhs or above, as "persons carrying on designated businesses or professions".
[F. No. P-12011/14/2020-ES Cell-DOR]
ARVIND SARAN, Director
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