Utkarsh Coaching / IT raids on Utkarsh coaching institutes across the country - 800 crore case

Utkarsh Coaching: On Thursday morning, teams of the Income Tax Department (IT) raided Utkarsh Coaching Institute located in various cities across the country. This action was taken on the institute due to allegations of tax evasion in fees. The Income Tax Department raided other states including Jaipur, Jodhpur, Prayagraj, Indore, Delhi.

Classes disrupted, students thrown out

Regular classes were going on at Utkarsh Coaching Institute during the raid. There was chaos among the students and teachers present in the institute when the teams arrived. Income Tax officials took the students out of the classes and took control of the campus. Along with this, heavy police force was deployed outside the institutes to ensure security.

Eye on partnership between Physics Wala and Utkarsh

According to Prerna Chaudhary, Joint Director of Income Tax Department, a few months ago there was a big partnership between Physics Wala and Utkarsh Coaching Institute. The department's team was keeping an eye on the suspicion of undeclared transactions in this deal of more than Rs 800 crore. Officials suspected that large-scale tax evasion has been done through this deal.

The institute was already under surveillance

According to sources, the Income Tax Department had received some concrete complaints against Utkarsh. The complaints alleged that the institute was not giving proper account of its fees and income from other sources. Based on this secret information, the department raided various locations of the institute.

What next?

After the IT raid, this matter can become more serious. If the allegation of tax evasion is proved, a heavy fine can be imposed on Utkarsh Coaching Institute. Also, there is a possibility of a thorough investigation of the entire deal of partnership between Physics Wala and Utkarsh.

Concern of students and parents

After this action, a wave of concern has run among the students and their parents. Many people are worried about whether this incident will affect their studies. However, no official statement has been given by the coaching institute on this matter so far.

Conclusion

This action of the Income Tax Department is being considered a major initiative to crack down on the increasing cases of tax evasion by coaching institutes in the country. It will be interesting to see what revelations are made in further investigation and what impact it has on the institute and students.