I-T searches at real estate firms in Hyderabad

Hyderabad: The Income Tax (I-T) Department on Tuesday conducted searches at the offices of various real estate firms in Hyderabad for alleged tax evasion.

About 20 teams of I-T officials were conducting the simultaneous searches at the offices of Wonder City, Royal City and other companies.

The officials were also checking records of various transactions at the office of Googee real estate firm in Dilsukhnagar.

Sources said the searches were part of the Department’s continued investigations into complaints of tax evasion against real estate companies.

Several such searches were conducted in the city in recent weeks.