IT raids copntinue for second day in Chennai

The Income-Tax raids on retailers and realtors in Tamilnadu continued for the second day today.According to reports, the raid were continuing in Saravana Stores, Revathy Stores, and realtors G Square and Lotus group. The Income Tax Department yesterday launched searches at 74 places in Tamilnadu in connection with a tax evasion probe against some real estate groups and a retail store chain in the state, officials said.

They said the raids are being carried out in Chennai and two places in Coimbatore against two realty groups and premises of retail chain Saravana stores, they said.