IT Raids On Sri Chaitanya Colleges: Rs.2 Crore Seized From Madhapur Branch
Hyderabad, Mar 11 (Maxim News): IT department teams have conducted searches on Sri Chaitanya colleges in the states of Telangana and Andhra Pradesh as well as in the city of Delhi. Mumbai, Bangalore, and Chennai. These searches are continuing for the second day. The IT department is currently conducting large-scale searches on Sri Chaitanya educational institutions based in Hyderabad.
It has come to light that Sri Chaitanya institutions are conducting illegal transactions, such as taking huge amounts of cash from students and accepting the same cash again without paying tax. The IT department officials who conducted the searches said that they are thoroughly investigating the tax payments and transactions involved in this controversy.
These searches were conducted after receiving information that these educational institutions were taking money in cash from students and evading taxes. Also, suspicions were expressed that these institutions were not only conducting transactions through software specially made for students, but were also evading tax payments through other software. In recent times, Sri Chaitanya Educational Institutions have emerged as the most prominent educational institutions in the states of Telangana and Andhra Pradesh.
This organization has developed a software for students that can be used to easily manage student fees and other payments as prescribed. But this is where new problems have come to light. It has been learned that through that software, money was being taken from students in cash and treated without paying the necessary taxes.
According to officials, it has been found that the organization is diverting the entire amount of money taken from students without paying taxes. The IT department has been receiving information about such illegal transactions for some time.
Another thing has also come to light. According to IT department officials, it has been found that this company has also used another software and tried to change its tax payments in another way. It is said that this software was used to make changes to easily hide tax arrears. Recently, inspections were conducted at the headquarters of Sri Chaitanya College in the Madhapur area of Hyderabad. In the course of searching this office, IT officials conducted large-scale secret inquiries there to collect more information.
The IT team is also trying to examine the available documents. Large-scale searches are being conducted to uncover tax payment information and illegal transactions. Although various allegations have been made against these educational institutions in the past, this time, the searches carried out by the IT department have become more exciting. In the past, too, the IT department and the tax department have regularly conducted inquiries against various colleges. (Maxim News)
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