SRIKAKULAM: The Income-Tax Department on Tuesday raided the houses of doctors, gold merchants, and cashew traders in Palasa town in the district.
In all, 10 teams conducted the raids simultaneously on the houses of selected persons.
According to sources, teams from Visakhapatnam and Vizianagaram have also inspected the houses of high net worth individuals.
Major centre
Palasa is one of the major cashew trading centres in the country. It witnesses exports worth ₹1,000 crore every year.
The town is also known for gold trading as it attracts customers from the nearby Odisha too.
The AP Commercial Taxes Department cracked the whip recently on those evading taxes by serving notices on them and seizing several factories.
The Income Tax Department had already cautioned people against evading taxes and warned of stern action if they failed to declare their incomes and assets. Only a few individuals utilised the Income Disclosure Scheme and paid 45% penalty.
Palasa Cashew Traders’ Association president Malla Srinivasa Rao confirmed that the raids were under way in the town.
“I am not in the town. But I have came to know about the raids through the media,” he said.
