On 15 March, I-T sleuths searched the office of the NGO Bala Vikasa to verify various documents to identify violations.
Bala Vikasa Center for Social and Responsible Business (Bala Vikasa website)
After real-estate and pharma companies, the sleuths at the Income Tax (I-T) department are now focusing on the activities of non-government organisations (NGOs) in Hyderabad to unearth any violations in the conduct of financial transactions.
On Wednesday, 15 March, they conducted searches at the office of the NGO Bala Vikasa and perused various documents to identify any violations related to the diversion of funds and the Foreign Contribution (Regulation) Act or FCRA.
The raids were carried out simultaneously at the residences of the NGO’s Executive Director Singareddy Shoury Reddy and other directors, along with its office in Somajiguda. The tax sleuths are said to have seized crucial documents from there.
The I-T teams also raided the palatial building of the NGO in Keesara and its main campus in Hanamkonda.
The NGO’s website states that “with a 44-year legacy of pioneering high-impact, innovative, multi-sectoral, community-led sustainable development interventions in rural India, Bala Vikasa, an ISO-certified non-profit in India, is silently but tenaciously striving for an equitable society”.
A few days ago, the I-T Department tightened the noose around the necks of real-estate businessmen, pharma companies, and financiers in the Telugu movie industry by raiding their premises with alleged tax evasion.
The action came after the I-T Department found alleged irregularities in the income tax returns filed.
With the help of the documents seized during the raids, the I-T officials verified records of the realtors and film financiers maintained in the last five years.
A total of 35 teams that first assembled at the I-T Department office in Aayakar Bhavan, Basheerbagh, on 18 January, left to raid 50 locations across the Telugu states with properties belonging to realtors Madhava Reddy and Srinivas Reddy.
One team raided the house and office of Madhava Reddy, along with the office of a real-estate company under the limits of Banjara Hills police station. It is learnt that Madhava Reddy was working as a “benami” for a prominent businessman in the city.
Another team raided the premises of real-estate company director Srinivas Reddy at Kukatpally, Jubilee Hills, Gachibowli, Kondapur, and Panjagutta.
One team conducted raids at the properties of a businessman who recently joined a particular political party.
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