Indore: Two firms engaged in real estate on Saturday admitted to income tax evasion worth Rs.3.75 crore and have agreed to pay up the dues following a survey conducted by the Income Tax Department here, officials said.

The department's sleuths led by Commissioner B P Jain conducted surveys at the premises of three leading firms engaged in real estate in the city last night, they said.

While Nalanda Infrastructure consented to income tax liability of Rs 3 cr, Rajasthan Property Broker made a declaration of about Rs 75 lakh to the department after their income was assessed by separate teams of officials.

The survey at the offices of Bajaj G Developers was still underway. The department officials have seized some documents and notified the two firms to deposit the tax which they evaded, an official said.



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