F.No.290/27/2013-Dir(inv.IV)/821

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
CENTRAL BOARD OF DIRECT TAXES
NEW DELHI-110055

Dated: September 15, 2014

OFFICE MEMORANDUM

Subject: Invitation of suggestions for better management of Suspicious Transaction Reports (STRs)

STRs constitute a strategically important source of information for Income Tax department. In the last few years the number of STRs has grown tremendously and is growing further. The department has not been able to investigate all STRs promptly.

2. The Board has reviewed the matter from various aspects of better management of STRs and it has been felt that while it is of paramount importance to take steps for better and quicker investigation in available STRs, it is important to identify, inter alia, the types of STRs that have been found not useful from direct tax point of view, so that necessary feedback could be given to FIU-IND to discontinue dissemination of such STRs. This would facilitate reduction in number of STRs and enable quicker and better investigation in remaining STRs.

3. As the first step for this exercise through broad-based consultation with departmental officers having experience in this regard, suggestions are invited latest by 30th September, 2014, from all the officers from the perspective of the following:

(a) What were the kinds of information in STRs that were found to be not useful or minimally useful?

(b) What were the main deficiencies of STR information that caused delay in investigation and disposal?

(c) What corrective measures may be taken to improve quality of STRs to enhance usefulness and gain speed in investigation?

(d) What kind of information should the STRs contain to facilitate detection of new trends/ modus operandi of tax evasion adopted in recent times?

(e) Any other relevant input.

4. The suggestions may be sent to the Under Secretary (Investigation IV), CBDT on the email ID: kalpana.singh81@nic.in

5. This issues with the approval of Chairman, CBDT [I/c of Member (Inv)].

(Kalpana Singh)
Under Secretary to the Government of India

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