IT Raids on Sri Chaitanya Colleges Continue for Second Day

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

According to reports, IT officials have seized ₹5 crore in cash during the raids. Authorities are scrutinizing the financial transactions of Sri Chaitanya institutions, including their software systems. The investigation primarily focuses on tax payments, with officials probing allegations of tax evasion.

Initial findings suggest that the educational group has been collecting substantial admission and tuition fees without issuing proper receipts, thereby avoiding tax payments. The IT Department suspects financial irregularities and is closely examining the institution’s tax records.

This is not the first time Sri Chaitanya institutions have come under scrutiny. In 2020, similar IT raids were conducted, during which officials reportedly seized ₹11 crore.