CBDT Issues Updated Guidelines For Implementing Risk Management Strategy

The Central Board of Direct Taxes (CBDT) has issued a new Office Memorandum outlining the procedure for managing tax-related information under the Risk Management Strategy (RMS).

This initiative seeks to enhance efficiency in tax assessments and investigations concerning income escapement cases under Section 147 of the Income-tax Act, 1961.

According to the latest directive, information from search and survey cases no longer needs to be uploaded on CRIU/VRU functionalities, as these cases do not require RMS execution. Instead, they should be directly referred to the Jurisdictional Assessing Officer (JAO) for further action.

Modifications to Sections 148, 149, 151, and 152 will impact search and survey cases conducted between April 1, 2021, and September 1, 2024. Searches under Section 132 or surveys under Section 133A will now bypass the CRIU/VRU functionality. All field officers must submit relevant information directly to the Jurisdictional Assessing Officer (JAO) by March 10, 2025, to ensure timely assessment.

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