I-T teams raid gold shops in Narasannapeta

Srikakulam: In all, 14 income tax teams conducted surprise raids at 14 gold and jewellery shops at Narasannapeta town in Srikakulam district on Tuesday. The teams led by principal commissioner of income tax of Visakhapatnam circle Ch Omkareswar  conducted the raids. Fourteen teams from Rajamahendravaram, Visakhapatnam, Vizianagaram and Srikakulam as these four districts are under  purview of Visakhapatnam circle. 

All the 14 teams conducted simultaneous raids and verified records regarding transactions and seized bills. Later, principal commissioner of income tax of Visakhapatnam circle Ch.Omkareswar explained the details of surprise raids to the media as the gold and jewellery merchants are evading tax by showing less business though they are doing good business.