Section 25 Companies, Charitable Trust, NGO, Societies under the purview of Prevention of Money Laundering Act (PMLA) 2002
Nov 20, 2009 Finance
Move part of global commitment to account for all finance flows. Charitable trusts, whether temples, churches or mosques, non-government organisations (NGOs), educational institutions or societies, if registered as non-profit organisations (NPOs), will not only have to disclose the source of their funds, but also be scrutinised for large monetary transactions.
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Tags: black money, charitable trusts, chit fund, educational institutions, Financial Institutions, government organisations, housing finance companies, indian companies act, monetary transactions, money laundering act, official gazette, pmla, private organisations, profit organisations