Chartered accountants are seeking clarifications on the finance ministry's recent notification on extending the ambit of anti-money laundering law as it can adversely impact ease of doing business and facilitation of foreign investments. According to industry sources, chartered accountants (CAs) and company secretaries often act as formation agents for foreign companies setting up businesses in India and often provide their own address for communication in the initial phase. They also act as resident directors of the foreign company trying to establish presence in the country and also operate bank accounts on behalf of their clients. Industry sources said there is no way that an accountant c
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