Hyderabad: The income tax department on Thursday, October 17, conducted raids on various firms across Hyderabad for alleged tax evasion.
The raids are being conducted on Googee Properties and Developers along with Anvita Builders including other firms since Thursday morning. The companies were on the IT department’s radar for tax evasion for quite some time.
Offices belonging to Googee properties were raided in February 2023 over the same issue. Googee is a firm with diversified stakes in construction and handloom industry in Hyderabad and peripheral districts.
Raids are being carried out by 30 teams of IT department at residences of directors and managing directors of the aforementioned firms in Jubilee Hills, Raidurgam, Kollur and Sangareddy.
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Googee Properties is owned by Yasmeen Fatima and Shaik Akbar and authorities were closely monitoring investments in the firm. It is to be noted that Akbar contested Telangana Assembly elections in 2023 from Malakpet.
As per news reports, the raids are being carried out over alleged violation of Income Tax rules and irregularities.
