IT officials conduct raids at 20 locations in Hyderabad

Hyderabad: The Income Tax (IT) officials are currently carrying out raids on real estate companies in Hyderabad. According to the sources, the raids are being conducted at 20 locations simultaneously, including the main office of Googee Properties in Dilsukhnagar. Other companies being targeted have as a part Pharma Hills, Wonder City, and Royal City.

It is not yet free from clouds or mist or haze what prompted the IT officials to conduct the raids, but they are reportedly investigating potential revenue enhancement evasion and not the same fiscal irregularities.

Last calendar month, the Income Tax department had conducted massive raids on four real estate firms in Hyderabad. Searches were conducted at Vasudha companionship person who is in charge workplace in SR Nagar, as or gas as real estate companies in Madhapur and Jeedimetla. It was initially discovered that there was a discrepancy between the business enterprise transactions carried out by these firms and the revenue enhancement paid.