Hyderabad: Income tax teams have been conducting searches at the offices of several real estate companies in Hyderabad and the Ranga Reddy district since early Monday.
Multiple teams of I-T officials raided the corporate offices of the companies and the homes of the owners. The searches are being carried out following the detection of large-scale tax evasion by the managements.
The operations are ongoing in Banjara Hills, Shadnagar, and Gachibowli.
