Under the Prevention of Money-laundering Act, 2002, the term "specified transaction" includes-
Section12AA cash withdrawals or deposits qualify when they exceed the prescribed amount. Other payment forms may qualify under a separate prescribed category, so cash is not…
Choose your answer
Under the Prevention of Money-laundering Act, 2002, the term "specified transaction" includes-
Answer and explanation
Correct answer B
Section12AA cash withdrawals or deposits qualify when they exceed the prescribed amount. Other payment forms may qualify under a separate prescribed category, so cash is not the exclusive payment form covered.