Anti Money Laundering

This query is : Resolved

rvbhat (Querist)
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25 February 2009 Sir

Pls advice me. If I accept third party chq payment against my receivable, does this come under the perview of Anti Money Laundering Act.

If so,Seeking a simple letter from third party for endorsing this payment will streamline the transaction.

Thanks & regards

Radhakrishna

C A GROUP COACHING

C A GROUP COACHING (Expert)
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26 February 2009 Once in a while for one of transactions it would be OK but repeated transactions of this type & if come to the notice or doubt of I.TAX Officer you would first be in Great Problem from I T Dept than come other Depts.So don't try it