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of <h1>New Standard Operating Procedure for Handling Suspicious Transaction Reports with Priority Categories P1, P2, and P3 -NET</h1> The circular establishes a Standard Operating Procedure for handling Suspicious Transaction Reports (STRs) received from Financial Intelligence Unit-India. It outlines the transition to an online dissemination system (FIN-NET) with priority categories P1, P2, and P3. The procedure requires maintaining detailed electronic registers, completing investigations within 90 days for high-priority cases and 120 days for others, verifying information from internal sources before issuing notices, and sending timely feedback reports. DGITs must monitor the process and submit monthly progress reports. The guidelines aim to streamline STR handling for more effective tax investigations while minimizing unnecessary taxpayer interactions.
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