IT department officials are conducting searches on many real estate companies in Hyderabad city. Searches are going on since this morning.
First Published Feb 28, 2023, 9:16 AM IST
Hyderabad: IT officials have been conducting searches in many real estate firms in the city since Tuesday morning.
IT officials are searching Googi Properties, Pharma Hills, Wonder City, Royal City and real estate companies in Hyderabad city. IT officials are searching 20 places in Hyderabad city.
IT officials are searching Googi Properties’ corporate office in Dil Sukh Nagar, Hyderabad. IT officials have carried out inspections from five o’clock in the morning today. The IT officials are conducting searches in the residences of the directors of Googi Properties. The officials are conducting searches with suspicion regarding the IT returns filed by the real estate companies.
Also read: Survey of IT officers in Delhi and Mumbai BBC offices
In the past too, IT department officials conducted searches in many real estate companies in Hyderabad city. The Income Tax officials are alleging that Hyderabad real estate companies are running huge businesses and submitting returns with false calculations. With these suspicions, the IT department officials, who conducted searches in the past, have also registered cases against many companies.
During these searches, the IT officials also identified the diversion of funds from various companies into real estate companies. However, it is known that the IT officials have collected key information from the respective organizations in the searches conducted today.
