The Income Tax Department initiated a series of raids on the residences of prominent business persons and property owners in Udaipur city on Thursday October 5, 2023 morning. This operation commenced with the arrival of six to seven vehicles from the Income Tax Department at the properties situated in Sector-14 and Sector-11 of the city.
The specialized team is currently meticulously scrutinizing documents pertaining to the financial operations and income of these businesspersons. Additionally, they are conducting investigations into properties that potentially exceed the reported income of the individuals. Notably, local law enforcement agencies are also present outside the targeted residences, ensuring the security and smooth progress of these operations.
This latest move by the Income Tax Department underscores their commitment to cracking down on tax evasion and ensuring transparency in financial matters. Further updates on the ongoing raids will be provided as more information becomes available. The department's team has been diligently collecting documents from local businesses throughout the morning. Furthermore, inquiries are being conducted with real estate and financial property enterprises in relation to this matter.
As per available information, the Income Tax Department has received reports of activities at various businesspersons' addresses within the city. Currently, discussions are ongoing regarding the involvement of two prominent real estate entrepreneurs in these actions, although their names have yet to be officially confirmed by the Income Tax Department. Departmental actions are currently in progress.