Income Tax Scrutiny Targets Anvitha Real Estate in Hyderabad for Alleged Tax Evasion
The Income Tax Department in Hyderabad has launched searches at multiple locations of Anvitha Real Estate Group to probe suspected tax evasion. The company, known for its projects in various locations, is facing intense scrutiny.
Income TaxReal EstateTax EvasionAnvitha GroupHyderabadReal Estate NewsOct 17, 2024
Anvitha Real Estate is a prominent real estate developer with projects in various locations, including Abu Dhabi, the United States, and Kollur, Hyderabad. The company is currently working on several high-profile projects, such as Anvitha Ivana and Anvitha High9 in Kollur. In addition to these, Anvitha Group has completed projects like Bhuvi Residency in Bachupally and is also involved in a project in Dallas, Texas.
The searches were not limited to the company's main office but extended to the offices of two key directors, Atchuta Rao Boppana and Anup Boppana. The registered office of Anvitha Infra Projects Private Limited in Raidurg, Gachibowli, was also inspected. The investigation also focused on other associated companies linked to the directors, including Anvitha Buildpro and Anvitha Assets Private Limited.
The Income Tax Department's action is a significant step in the ongoing efforts to curb tax evasion and ensure transparency in the real estate sector. The scrutiny is expected to have a broad impact on the operations of Anvitha Real Estate and its associated entities.
Information Anvitha Real Estate Group is a well-known real estate company headquartered in Hyderabad. The company has a diverse portfolio of projects, both in India and internationally. Known for its quality developments, Anvitha Real Estate has built a reputation for delivering innovative and sustainable housing solutions.
Anvitha Real Estate Group is a leading real estate developer with a presence in multiple regions. The company's commitment to excellence and customer satisfaction is reflected in its successful projects across various locations. Despite the current investigation, Anvitha Real Estate continues to strive for transparency and compliance with all legal and regulatory standards.
Frequently Asked Questions
Why is the Income Tax Department conducting searches on Anvitha Real Estate Group?
The searches are being conducted to investigate suspected tax evasion by the company.
What projects is Anvitha Real Estate Group currently working on?
Anvitha Real Estate Group is currently working on projects like Anvitha Ivana and Anvitha High9 in Kollur, as well as other projects in Hyderabad and abroad.
Where are the searches taking place?
The searches are taking place in Hyderabad and Rangareddy districts, including the registered office and the offices of two directors in Gachibowli.
What other companies are linked to Anvitha Real Estate Group?
Anvitha Real Estate Group is associated with other companies such as Anvitha Buildpro and Anvitha Assets Private Limited, which are linked to the directors.
What is the significance of this investigation for the real estate sector in Hyderabad?
The investigation is significant as it sends a strong message about the government's commitment to curbing tax evasion and ensuring transparency in the real estate sector.
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