Realty firms top tax evaders list
The real estate sector remains on the top when it comes to unveiling unaccounted income. The operations against realty firms make more than 70 per cent of I-T raid operations in the state.
I-T officials say that many realty firms have done good business and have evaded taxes. Sources say that, around 6,000 suspected land and property transactions are not being tackled hence cracking down property tax will be crucial for in the coming days. Unaccounted money has been unearthed by income tax department from many realty firms.
Some gig black money disclosure have been seen from realty companies in Surat. Where as sources say that realty firms, including in Ahmadabad, initially refused to make voluntary disclosures and made the tax sleuths run the extra mile for unearthing unaccounted income.
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