CBDT Targets IVF Clinics and Medical Colleges in Cash Transaction Crackdown

The Central Board of Direct Taxes (CBDT) has intensified its crackdown on cash transactions in IVF clinics and medical colleges, targeting undisclosed income and tax evasion. The initiative aims to uncover unreported cash receipts and ensure that all income is properly recorded and taxed. The CBDT is scrutinizing financial records, conducting surveys, and using data analytics to track suspicious transactions. This move is part of a broader effort to increase transparency and compliance in the medical sector, particularly in areas prone to high-value cash transactions. The crackdown is expected to lead to significant tax recoveries and deter tax evasion in these sectors