Rs.700 Crore Tax Evasion Detected After Raids On Hyderabad Realty Developers

Thursday, 1 April 2021Newsdesk

The Income Tax Department on Wednesday claimed to have detected tax evasion of about Rs.700 crore after it raided two real estate developers based in Hyderabad recently.

New Delhi, 01 April 2021

As per news report of NDTV, cash amounting to Rs. 11.88 crore and jewellery worth Rs.1.93 crore were also seized during the action against the groups based in and around Yadagirigutta, a suburb of Telangana's capital city, the Central Board of Direct Taxes (CBDT) said.The entities searched are into plot ventures as well as construction of apartments, it said in a statement.

Source -NDTV