Income Tax officials raid textile stores in Hyderabad

Hyderabad: Income Tax officials are conducting searches in many parts of Hyderabad since the early hours of Monday. Searches are being done at famous clothing stores and their owners are being investigated. Along with Kalamandir, IT officials are conducting searches in Varamahalakshmi, Kancheepuram and KLM Passion.

Also Read

Several from Hyderabad held for illegal gambling in Thailand

Searches were carried out simultaneously at more than 20 locations in Banjara Hills, Jubilee Hills, Madhapur, and Gachibowli.

The IT officials have formed 40 teams and are conducting simultaneous searches. IT searches are also being carried out in houses belonging to prominent textile merchants of Vizag.

Besides Hyderabad, searches are also going on in Vijayawada and Vizag. It seems that the IT department is conducting searches based on information about large amounts tax evasions.