Nagpur: The Income Tax Department’s Intelligence and Criminal Investigation (I&CI) wing in Nagpur is preparing to issue notices to luxury hotels, hospitals, jewelry stores, and wedding planners for failing to report high-value transactions, raising concerns over financial transparency in the city.
Despite the booming presence of premium apartments, high-end hotels, luxury hospitals, and jewelry showrooms, official records indicate virtually no transactions above the legally mandated thresholds. Authorities are puzzled by this discrepancy, suspecting either deliberate under-reporting or a reluctance to submit Specified Financial Transactions (SFT).
Hospitals & Hotels Under Scrutiny
Under the law, hospitals must disclose bills above ₹2 lakh, and hotels must report single bills exceeding ₹50,000. Yet, in Nagpur, not a single hospital or hotel has submitted such records, even though routine treatments or luxury hotel bookings easily exceed these amounts. Officials say this raises red flags about compliance and transparency.
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18 Aug 2025
Jewelry Sector & Wedding Planners
The jewelry sector has also failed to report cash transactions above ₹2 lakh, despite hundreds of such dealings likely happening daily. Wedding planners organizing multi-crore events are similarly avoiding disclosure, even for packages priced over ₹10 lakh.
The I&CI has mapped high-risk sectors and started cross-verifying tax returns with sector-level SFT filings. Notices are being prepared, and several businesses could soon face action for non-compliance. Authorities emphasize that this crackdown is part of a wider effort to improve financial reporting and curb unaccounted transactions in Nagpur.
