Rule 10B - Expenses for audit - Prevention of Money-Laundering (Maintenance of Records) Rules, 2005

1 [Expenses for audit 10B. (1) The expenses of, and incidental to, audit referred to in sub-section (1A) of section 13 of the Act (including the remuneration of the accountant, qualified assistants, semi-qualified and other assistants who may be engaged by such accountant) shall be paid in accordance with the amount specified in sub-rule (2) of rule 14B of the Income-tax Rules, 1962 for every hour of the period as specified by the Director. (2) The period referred to in sub-rule (1) shall be specified in terms of the number of hours required for completing the report. (3) The accountant referred to in sub-section (1A) of section 13 of the Act shall maintain a time sheet and submit it to the Director, along with the bill. (4) The Director shall ensure that the number of hours claimed for billing purposes is commensurate with the size and quality of the report submitted by the accountant .] ------------------------ Notes; 1. Inserted Vide Prevention of Money-laundering (Maintenance of Records) Amendment Rules, 2013, w.e.f. 27-8-2013 .