Quick Summary
The Central Board of Direct Taxes (CBDT) has issued an Office Memorandum (OM) dated February 27, 2025, providing crucial clarifications on the implementation of the Risk Management Strategy (RMS) under the Income-tax Act, 1961, in light of recent amendments introduced by the Finance (No. 2) Act, 202
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FAQ :
The clarification provides guidance on the Risk Management Strategy (RMS) for income tax cases, specifically addressing how information from search and survey cases should be handled.
No, information arising from search and survey cases is exempt from RMS upload and should be directly forwarded to the Jurisdictional Assessing Officer (JAO).
Cases where a search, survey, or requisition of assets occurred between April 1, 2021, and September 1, 2024, will continue to be governed by the unamended provisions of Sections 147 to 151.
Any previously uploaded information concerning search/survey cases must be transferred directly to the JAO by March 10, 2025.
For cases not falling within the search/survey category, officers must continue uploading information on the CRIU/VRU functionality at the earliest.
This clarification is expected to streamline income tax assessments, ensure efficient handling of search and survey cases, and reduce procedural bottlenecks in tax administration.
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