Income Tax Raids Target Hyderabad Real Estate Firms

The Income Tax Department of Hyderabad has conducted extensive raids on multiple real estate companies, including Anvitha Real Estate Group, Googee Properties, and Anvita Builders, amid allegations of tax evasion. Searches were executed at corporate offices and the residences of managing directors across various locations, involving around 30 teams of officials. Anvitha Group's projects span international locations, while Googee Properties is linked to Congress leader Akbar Shaik, who previously contested in state elections. The investigation focuses on potential financial irregularities and scrutiny of overseas business transactions and tax filings for the past two financial years. These actions follow previous monitoring of these companies, indicating ongoing concerns regarding compliance with tax regulations.