TaxTMI 
TaxTMI 
TaxTMI 
Prevention of Money-laundering (Maintenance of Records) Third Amendment Rules, 2019.
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....nd letters "section 73 read with section 11A and section 12AA" shall be substituted. 3. In the principal rules, in rule 2, in sub-rule (1),- (i) the clauses (aa), (aaa), (aab), (aae), (aaf), (ca), (cb), (cc), (cd), (faa) and clause (fb) shall be re-numbered as clauses (ac), (aa), (ab), (ca), (i), (cc), (cd), (ce), (cf), (fb) and clause (fc) respectively; (ii) after clause (bb), the following clauses shall be inserted, namely: '(bba) "digitial KYC" means the capturing live photo of the client and officially valid document or the proof of possession of Aadhaar, where offline verification cannot be carried out, along with the latitude and longitude of the location where such live photo is being taken by an authorised officer of the reporting entity as per the provisions contained in the Act; (bc) "Digital Signature" shall have the same meaning as assigned to it in clause (p) of sub-section (1) of section (2) of the Information Technology Act, 2000 (21 of 2000);'; (iii) after clause (ca), the following clause shall be inserted namely; '(cb) "equivalent e-document" means an electronic equivalent of a document, issued by the issuing authority of such document with its valid ....
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....ferred to in sub-rule (4) and Permanent Account Number or Form No.60, as the case may be,", the words, brackets and figure "as per the provisions of sub-rule (4)" shall be substituted; (c) for clause (v), the following clause shall be substituted, namely:- "(v) the foreign remittance shall not be allowed to be credited into the small account unless the identity of the client is fully established as per provision of sub-rule (4):"; (iii) in sub-rule (6),- (a) after the words "following documents", the words "or the equivalent e-documents thereof", shall be inserted; (b) in clause (iv), after the word "behalf;", the word "and", shall be inserted; (c) for clause (v), the following clause shall be substituted, namely:- "(v) such documents as are required for an individual under sub-rule (4) relating to beneficial owner, managers, officers or employees, as the case may be, holding an attorney to transact on the company's behalf;"; (iv) in sub-rule (7),- (a) after the words "following documents", the words "or the equivalent e-documents thereof", shall be inserted; (b) for clause (iv), the following clause shall be substituted, namely:- "(iv) such documents as a....
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....e offline verification can be carried out, the reporting entity shall carry out offline verification; (c) an equivalent e-document of any officially valid document, the reporting entity shall verify the digital signature as per the provisions of the Information Technology Act, 2000 (21 of 2000) and any rules issues thereunder and take a live photo as specified under Annexure 1. (d) any officially valid document or proof of possession of Aadhaar number under clause (ab) of sub-rule (4) where offline verification cannot be carried out, the reporting entity shall carry out verification through digital KYC as specified under Annexure 1: Provided that for a period not beyond such date as may be notified for a class of reporting entity, instead of carrying out digital KYC, the reporting entity pertaining to such class may obtain a certified copy of the proof of possession of Aadhaar number or the officially valid document and a recent photograph where an equivalent e-document is not submitted. Explanation.- Obtaining a certified copy by the reporting entity shall mean comparing the copy of the proof of possession of Aadhaar number where offline verification cannot be carried out ....
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....nd Date (DD:MM:YYYY) and time stamp (HH:MM:SS) on the captured live photograph of the client. E. The Application of the Reporting Entities shall have the feature that only live photograph of the client is captured and no printed or video-graphed photograph of the client is captured. The background behind the client while capturing live photograph should be of white colour and no other person shall come into the frame while capturing the live photograph of the client. F. Similarly, the live photograph of the original officially valid document or proof of possession of Aadhaar where offline verification cannot be carried out (placed horizontally), shall be captured vertically from above and water-marking in readable form as mentioned above shall be done. No skew or tilt in the mobile device shall be there while capturing the live photograph of the original documents. G. The live photograph of the client and his original documents shall be captured in proper light so that they are clearly readable and identifiable. H. Thereafter, all the entries in the CAF shall be filled as per the documents and information furnished by the client. In those documents where Quick Response (QR)....