Sri Chaitanya Evaded Rs 230 crore taxes?

After five days of raids in around 30 campuses of Sri Chaitanya Educational Institutions, including in Andhra Pradesh, Telangana, Maharashtra (Mumbai), Karnataka (Bengaluru), and Tamil Nadu (Chennai), the Income Tax Department has reportedly discovered that the institution evaded taxes amounting to ₹230 crore.

During the searches, IT officials reportedly found evidence that the institution had accumulated significant wealth and purchased properties across the country. 

It has been learnt that the raids were initiated on suspicions of tax evasion. The management reportedly pressured students to pay their fees in tax and subsequently, purchased properties with it.

The searches also revealed that management was using two specialized software programmes for internal transactions. One was used to collect student fees, and the other was used to evade tax payments.

According to reports, scrutiny of the software systems revealed that management collected 75% of the fees in cash and reported only the remaining 25% to the government to evade taxes.