« Top Headlines » Open DEMAT Account in 24 hrs  Budget 2024 makes new income tax regime more attractive: See how much taxes you can now save  ITR filing 2024: New vs old income tax regimes, 6 key things to consider while filing your tax return  These five technical glitches may impact your Income tax return (ITR) filing. Know here  ITR filing 2023-24: How to optimise Section 80D deductions at the time of filing tax returns  ITR filing 2023-24: Top 7 mistakes to avoid for hassle-free income-tax return filing this year  Income tax returns for FY 2023-24: Keep these 8 tax law changes in mind while filing ITR this year  ITR Filing 2024: Know who can and cannot file income tax returns using ITR-1 this year  Income Tax Filing: 10 necessary guidelines that you must be aware of  Why you should file your income tax returns before July 31  What is Form 26AS? How to download Form 26AS to file Income Tax Return (ITR)  Income Tax Return: What are the alternatives to Form 16 that can be used while filing ITR? «  Consumer is king in Rajasthan's VAT compliance scheme... Net direct tax collections up... » Tax sleuths raid real estate developers in Bangalore June, 27th 2007 Tax sleuths on Tuesday unearthed cash estimated to be in billions of rupees, gold and jewellery and incriminating documents in raids on the offices and residences of some Bangalore-based real estate developers and property dealers, a top official said. The searches were carried out simultaneously in four to five premises of the developers and dealers in the presence of police and senior officials of the income tax department. "The raids are still on. Details on recoveries are awaited, as the teams are yet to return from the field. The searches are being conducted in connection with tax evasion and amassing of wealth disproportionate to their sources of income," the income tax official told IANS on phone. Police officials accompanying the tax sleuths said raids in the premises of S. Manjunath, a leading builder-cum-property dealer, yielded about Rs.100 million in cash, seven kg of gold, documents and stamp papers related to buying and selling of lands, residential plots and houses. Official-cum-residential premises of two other developers - Reddy Veeranna and Kupendra Reddy - were also searched leading to the seizure of unaccounted cash, forged documents and passbooks of bank accounts. "The seizures have revealed the extent of evasion and non-disclosure of the deals taking place in and around the city, where demand for commercial and residential properties has been surging of late," the official said on condition of anonymity. Meanwhile, Karanataka Chief Minister H.D. Kumaraswamy denied reports that realtor Manjunath was associated with his family and handled property deals on his behalf. "So many people have began claiming to be close to me and my family since I became the chief minister last year. It is for the authorities to verify such claims," Kumaraswamy told reporters at the secretariat when the raids were brought to his notice. Sources in the ruling Janata Dal-Secular said Manjunath was only a supporter of the party and participated in its campaign during the last elections.