I-T Searches Pharma Companies in Hyderabad

The Income Tax (I-T) Department was conducting searches on the premises of some pharma companies in Hyderabad on Monday.

At least 10 teams of I-T officials began the searches early this morning at houses and offices of directors of pharma companies in and around Hyderabad.

The I-T officials were checking the records of financial transactions, reportedly on the complaints of tax evasion.

Searches were being carried out at Nagulapally in RC Puram, Patelguda in Ameenpur and in Gachibowli.

The IT officials were conducting searches at the flats of some top executives of the pharma firms at My Home Bhooja, the upscale apartments in Gachibowli area.