I-T Dept raids 7 firms, unearths Rs 40.24-cr unaccounted money | india | Hindustan Times
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I-T Dept raids 7 firms, unearths Rs 40.24-cr unaccounted money

Seven groups comprising builders and real estate developers today admitted to have undisclosed income of Rs 40.24-crore, when Income Tax Department conducted a raid, one of the I-T officials said here.

india Updated: Feb 23, 2010 22:24 IST

Seven groups comprising builders and real estate developers today admitted to have undisclosed income of Rs 40.24-crore, when Income Tax Department conducted a raid, one of the I-T officials said here.

"Around eleven premises of seven groups, including builders and real estate developers, were covered during the raid in which they have admitted to have undisclosed income of Rs 40.24 crore," the I-T official said.

One of the builders alone has admitted to have accounted income of Rs 27-crore, he added.