Standard Operating Procedure (SOP) for handling Suspicious Transaction Reports (STRs).

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....ly. 2. As per the existing practice, STRs of Category A and others received by the Board in paper format were sent to the DGIT (l&CI), who, in turn, disseminated the same to the jurisdictional DsGIT (Inv). The DsGIT (Inv) cause investigation into the STRs through investigating officers below and send feedback to Investigation IV Branch of the Board. 3. FIU-IND has now introduced the process of on-line dissemination of STRs called FIN-NET, details of which have been conveyed separately. The nomenclature of categorization of STRs by FIU-IND also has undergone change and instead of Category A and others, the new categorization is P1, P2, P3, indicating the priority. The feed-back etc also will be on-line in the new system. In the new sys....

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....he following details in a register (electronic form in Excel or other searchable database with secure back-up) : i) Serial no. (starting from beginning of financial year) ii) Name of the main person in the reported transaction iii) PAN of the main person in the reported transaction iv) STR no. assigned by FIU v) Whether any other STR has been received against the same person. If yes, number thereof vi) Date of receipt of the STR vii) Category assigned viii) Due date for sending the feedback to the Board ix) Date of sending feedback x) Unit to which disseminated xi) Date of dissemination to DIT/Addl/Joint DIT unit xii) Date within whic....

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...., ITDMS, AIS, ITS, AIR, CIB, OLTAS, eTDS... etc. so that the assessees are not called upon to furnish data already available with the Department. If the contents of STR can be verified with the help of these sources with reasonable satisfaction, the same can be closed without undertaking any further inquiry and feedback should be sent. vii. If open inquiries are to be made, clarification of the assessee should be asked at the initial stage itself on specific issues. Notice u/s 131 (1A) of income Tax Act. 1961 may be issued in accordance with the law calling for specific details necessary for the issues under inquiry. Calling for general details not germane to the subject matter are avoidable. Personal attendance should be avoided, ....