Numerous big builders in Delhi-Gurugram raided by IT officials for evading Rs 761.99 crore.

Income Tax Department Raids Properties in Gurugram and Surrounding Areas

Greater Noida. Income Tax Department teams raided many places in Gurugram and its surrounding areas, including Greater Kailash-2 in Delhi. The raids were conducted in connection with tax evasion by a prominent real estate businessman. This comes after similar raids were carried out on Friday at the premises of several builders in Gurugram and the National Capital Region (NCR). Among the companies under scrutiny is the well-known real estate firm, Auris Group.

Continued Crackdown on Builders in Noida and Greater Noida

In the past 14 days, the Income Tax Department has targeted numerous major builders in Noida, Greater Noida, the NCR, and West Uttar Pradesh. It is believed that several builders in Noida and Greater Noida are still being closely monitored by the department. Auris Group, which was allocated land in 2011 to develop the Greenbay Golf Village housing project in Sector-22D of Yamuna Authority, reportedly owes Rs 761.99 crore as of February. This makes the group the largest defaulter in the housing category.

Probe Uncovers Fraud by Greenbay Infrastructure Company

During the investigation, it was discovered that the Greenbay Infrastructure Company, associated with Auris Group, had committed fraud. As a result, a case has been registered against the company by the police. This development adds to the woes of the real estate firm, which is already facing scrutiny due to tax evasion allegations. The Income Tax Department’s crackdown on builders aims to curb black money and ensure compliance with tax regulations.

Conclusion

The Income Tax Department’s recent raids on various properties in Gurugram and its surrounding areas, including Greater Kailash-2 in Delhi, indicate a continued crackdown on tax evasion by real estate businessmen. The raids on Auris Group and other real estate companies come after similar actions were taken against builders in Noida, Greater Noida, the NCR, and West Uttar Pradesh. The investigation into the Greenbay Infrastructure Company’s fraudulent activities highlights the need for stricter regulation and enforcement to combat financial irregularities in the real estate sector.

Summary:

• The Income Tax Department raided several locations in Gurugram and its surrounding areas, including Greater Kailash-2 in Delhi, in connection with tax evasion by a prominent real estate businessman.
• Auris Group, a well-known real estate firm, is among the companies targeted in the raids.
• The Income Tax Department has been conducting raids on builders in Noida, Greater Noida, the NCR, and West Uttar Pradesh in the past 14 days.
• Auris Group owes Rs 761.99 crore as of February, making it the largest defaulter in the housing category.
• Investigation revealed fraud committed by the Greenbay Infrastructure Company, associated with Auris Group, leading to a police case being registered against the company.
• The raids are part of the Income Tax Department’s efforts to curb black money and ensure tax compliance in the real estate sector.