IT department
IT department
Hyderabad: Realtors under Greater Hyderabad limits who allegedly have got links with BRS MLAs or their kinsfolk members have got been position under the radar of IT department for not maintaining suitable accounts.
The IT department on Tuesday raided the offices of such realty companies, including Pharma Hills, Wonder City, Royal City and Googee Properties in Hyderabad on Tuesday. It is being said that many BRS MLAs or their kinsfolk members have got commercial enterprise interests in these real estate companies. It is alleged that they had failed to supply documents regarding their fiscal transactions.
Top sources said that a special IT squad is probing the activities of realty companies in the posh areas where come down on the ground rates are greater than normal in degree or intensity or amount and big lodging and ventures were coming up.
The areas have as a part LB Nagar, Kukatpally, Serilingampally, Maheshwaram and Rajendra Nagar Assembly segments. Land parcels acquired by the realty companies were allegedly owned by some ruling political party leaders and their close in relevance or relationship relatives. A thorough is being done to probe if there is any nexus between the realtors and leaders and if there was any evasion of taxes.
It may be recalled that sometime side that goes last or is not normally seen taxation sleuths had conducted raids on some noted realty companies be fond of Rajapushpa Properties (RP), Muppa Projects India Private Limited (MPIPL), Vertex Homes (VH) and Vasudha Homes Private Limited (VHPL) in the initial calendar week of February. Officials affirm that the companies pick up immense currency for booking. But it was not shown in the records and was used for not the same purposes.
Sources said that the probe into the role of the unaccounted currency in the construction commercial enterprise and the links between leaders and the realty owners was on and depending on the evidence, they would soon important question summons to the realtors and the leaders and look for their on their investments.
A older or higher in rank having official authority said that non-filing of IT returns and the diversion of currency without maintaining records were the chief issues which the IT officials are focussing on for the intermediate between past and future.
