Cracking down heavily on tax evasion and unaccounted money, the Income Tax department raided prominent Pune real estate developers at Pimpri Chinchwad and Aundh. The real estate and construction is under close scrutiny of the taxmen suspecting large scale under reporting of sale and investments in properties.
“The raids are part of the department’s ongoing efforts to curb tax evasion and enforce compliance with tax regulations,” confirmed a senior IT official.
Income Tax had launched multiple raids in Pune’s Aundh and Pimpri Chinchwad region targeting builders suspected of malpractices. A total of three premises in Sindh Society in Aundh along with three other locations were raided by the IT officials.
Earlier last week a 225 member strong team of Income Tax sleuths had descended on top developers and traders in the grape city of Nashik and detected Rs 3300 crore of tax evasion. The IT teams, which came in a fleet of more than 90 vehicles, raided 40 to 45 offices, bungalows and farm houses of top builders in Nashik and Igatpuri.
