IT sleuths conduct raids in offices of the leading real estate companies in Hyderabad

The Income Tax department is conducting raids at several offices of the leading real estate companies. The raids are being conducted to check the irregularities in payment of income tax.

Hyderabad (Telangana): Income Tax sleuths are conducting raids in offices of the leading real estate companies in Hyderabad. The houses of Urjitha Constructions MD Srinivasa Reddy, Sriaditya Homes Pvt Ltd Director Kotareddy, and his son Aditya Reddy were also searched by the sleuths simultaneously at Lodha Apartments in KPHB.

IT officials are conducting inspections in the offices of directors, CEOs, representative houses, and offices of subsidiaries of the main company. About 50 teams of the IT department are involved in conducting raids at various places in Hyderabad. The IT officials are investigating allegations of irregularities in income tax payments. The sleuths are also collecting the details of the IT returns in the last five years from the accounts department.

These searches are going on in several parts of the city including Banjara hills and Kukatpally. Officials claim that these raids are likely to continue for the next three days.