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    Question

    “Proceeds of Crime” under PMLA refers to:

    A Legal income earned abroad and brought to India Correct Answer Incorrect Answer
    B Any property derived from legal business Correct Answer Incorrect Answer
    C Any property derived or obtained, directly or indirectly, by any person as a result of criminal activity Correct Answer Incorrect Answer
    D Any income taxable under the Income Tax Act Correct Answer Incorrect Answer
    E Property confiscated by the Government under IPC Correct Answer Incorrect Answer

    Solution

    Explanation: As per Section 2(1)(u) of the PMLA, “proceeds of crime” means any property derived or obtained, directly or indirectly, by any person as a result of criminal activity relating to a scheduled offence. It includes the value of such property if it is taken or held outside the country.

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