Money laundering is a serious criminal offence with severe penalties. The Prevention of Money Laundering Act, 2000 (PMLA 2000) was put in place in order to tackle this escalating crime and provide measures to prevent people from facilitating money laundering activities. The PMLA 2000 uses a two-pronged approach to tackle this offence, penalizing individuals or […]
Strengthening Financial Systems: Enhancing Compliance Through Prevention of Money Laundering Act 2002 (PMLA 2002) What is Money Laundering? Money laundering is the process of disguising illegally acquired income and transferring it into a legitimate financial system. Money laundering is used to camouflage the source of unlawful funds, often sourced from criminal activities such as drug […]
Section 212 of Companies Act, 2013 deals with investigation into the affairs of company by Serious Fraud Investigation Office (SFIO).
Section 36 of the Companies Act 2013 deals with criminal liability of companies for fraudulently inducing persons to invest money. Discover the punishment for this offence and more in this blog post
Section 144 of Companies Act 2013 imposes restrictions on services that auditors can provide. These restrictions are in line with globally accepted standards on auditing and aim to ensure auditor independence.
Section 143 of Companies Act 2013 lays down powers & duties of auditors when it comes to auditing accounts & financial statements of companies
ircular trading by organisations to get public funds is a practice that involves the same set of companies involved repeatedly selling and buying. This is done in order to obtain access to funds from the public without actually benefiting them, but for the companies’ own gains.
Section 80G of Income Tax Act 1961 allows individuals and organizations to claim deduction on donation to certain specified fund or trusts registered under section 80G.
Section 12AA of the Act deals with the provisions that are applicable to the registration of a trust or institution under the Act.
Section 80CCD of the Income Tax Act, 1961 deals with the Deduction for Investment in Pension Fund. The main objective of this Section is to provide tax benefits to an employee for making contributions towards provident or pension fund.
