- KR Bharat
- 2025-10-07
The Income Tax Department carried out large-scale search operations in several areas of Hyderabad, including Kondapur, Kukatpally, Jubilee Hills, and Banjara Hills, targeting chit fund companies, finance firms, and individuals suspected of serious tax evasion. Over 100 teams were deployed early in the morning to conduct simultaneous raids at residences and offices of company directors and businessmen allegedly involved in financial irregularities. Entities such as Pooja Krishna Chit Fund, Jeevanshakti Chit Fund, and E-com Chit Fund came under scrutiny, along with the homes of their directors and key associates.
The searches focused on suspected violations related to undisclosed income, unaccounted transactions, and possible tax fraud stretching over several years. Officials reportedly seized financial documents, digital records, and electronic devices for further investigation. In Kukatpally, raids were also conducted at the residences of persons linked to influential political and business circles. The operation has caused a ripple across the city’s financial sector, especially among smaller chit fund operators and finance firms under the scanner. Further action will depend on the analysis of seized materials and discrepancies found in income declarations.
