IT Department Raids at 30 places in Tamil Nadu for Tax Evasion

The Income Tax Department searched more than 30 locations across the state over suspected tax evasion by real estate firms and contractors, on Wednesday.

Along with Dindigul, the raids took place in the suburbs of Chennai, including Singaperumalkoil and Koovathur. The raids took place at the same time on Wednesday and were based on information that the accused companies had evaded taxes by many crores.

According to sources, I-T investigators have confiscated cash and documents that could be used as evidence; these items’ specifics will be made public after a careful review.

According to reports, the former state administration gave the seized companies contracts to complete various infrastructure development projects totaling several thousand crores.

The income tax department, however, made no official announcement regarding the raids.

Source: Times of India