IT Raids on Sri Chaitanya Institutions

The Income Tax (IT) Department’s raids on Sri Chaitanya educational institutions have entered their second consecutive day, with searches ongoing at the organization's headquarters in Madhapur, Hyderabad, and multiple locations across Telangana, Andhra Pradesh, Chennai, Mumbai, Bengaluru, and Delhi.

Officials have reportedly seized ₹5 crore in cash while scrutinizing the institution's financial transactions, including its software systems. The investigation focuses on alleged tax evasion, particularly unaccounted admission and tuition fee collections.

Preliminary findings suggest that Sri Chaitanya institutions have been collecting substantial fees without issuing proper receipts, potentially evading taxes. Authorities are closely examining the group’s tax records for financial irregularities.

This is not the first time the institution has come under scrutiny. In a similar IT raid in 2020, officials reportedly seized ₹11 crore.