Income-Tax seizes Rs 66 lakh from middlemen in Hyderabad

Written by | December 19, 2016 | 0

Hyderabad: Income-Tax sleuths recovered Rs 66 lakh in two separate raids at Tank Bund and Himayat Nagar on Sunday. At an apartment in Himayat Nagar, Rs 36 lakh in Rs 2,000 denomination notes were found, while two persons on a motorbike intercepted at Tank Bund were found to be carrying Rs 30 lakh in the new currency.

The I-T department got a tip-off about a gang exchanging Rs 6 crore in Himayat Nagar. “In the pursuit, the gang went into an apartment at Himayatnagar. We caught six people and recovered Rs 36 lakh. They were all middlemen,” said an I-T official.

 The gang had planned to exchange the money for a 30 per cent  commission. In the other case, I-T officials stopped two people on a bike on way to exchange the cash. They were also middlemen,” said the official.
Filed in: Hyderabad

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