The Income Tax department was conducting raids at several places in Hyderabad on Thursday.
About 100 teams of I-T sleuths were searching the premises of industrialists, businessmen and contractors. Searches were also on since early morning at their houses and offices.
The I-T department also conducted raids at some chit fund companies, finance companies and their directors.
The search was on at a few premises in areas like Kukatpally, Ameerpet, Shamshabad and Jubilee Hills.
The officials were reportedly looking into complaints of tax evasion. They were checking records of financial transactions.
The I-T sleuths were checking computers, laptops and other digital records.
Further details were awaited.
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