Income tax seized Rs 38 cr from realtors
Rupees 38 crore unaccounted money has been seized by the income tax department during raids at the residential and office premises of real estate developers in Surat.
According to sources, two real estate groups had disclosed unaccounted income worth Rs 27 crore and another leading realtor has disclosed Rs 11 crore.
The search and seizure operation at the brokerage firm offices dealing in the real estate sector in Annapurna Market at Ring Road and at the Rahul Raj Mall on Piplo.
Further investigation in the brokerage firm revealed the diversion of huge amount of money into the city’s real estate projects and the purchase of prime lands in the city’s Vesu, Kadodara, Piplod, Althan, Adajan, Sosyo Circle and Ring Road.
Annapurna Market, black money, Brokers, Income Tax, income tax department, Indian real estate, real estate brokerage firms, Real estate brokers, Real Estate Developers, Real estate firms, Real estate in India, Residential, Surat, unaccounted money
