Visakhapatnam/ Vijayawada: Officials of the Income Tax department are believed to have started arriving in Visakhapatnam to conduct raids.
According to sources, around 50 officials of I-T department from four states — Odisha, Telangana, Tamil Nadu and Karnataka –reached Vizag city from various routes on Wednesday evening.
The sources said that I-T raids are likely to take place early on Thursday on the chit fund companies, real estate firms and business houses owned by TD leaders and high-profile entrepreneurs in the city.
Recently, I-T sleuths checked companies of key TD leaders in the surrounding areas of the capital region for two days.
On Wednesday, I-T sleuths visited the residence of Vijayawada mayor Koneru Sridhar and reportedly checked the records of KMK Event Management Company belonging to his family.
The company is run by Mr Sridhar’s wife Rama Devi. However, Ms Rama Devi denied any I-T raids on her residence, saying that the personnel were tax auditors.
