Breaking its silence on the week-long Income Tax raids, real estate firm G Square Realtor on Wednesday said comprehensive investigations conducted by the tax authorities had “decisively confirmed unequivocally and unequivocally” that the company has no affiliation with any political party or family member of any such party.
Over the past week, IT detectives have been conducting searches at G Square Realtor offices across the country.
In a press release, the Chennai-based real estate company said investigations had debunked all baseless allegations, including false and malicious claims regarding the value of the property. The company’s net assets are ₹38,000 crore. “We are relieved that this is an opportunity for us to present the facts to the public and prove our position verifiable to the central government,” the statement signed by G Square Realtors MD , Bala, read.
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The company says it has been engaged in real estate development for the past 15 years and has provided direct and indirect employment to 33,000 people in addition to contributing nearly 1,000 crore to the state treasury in the form of income tax. import, GST and registration tax.
“G Square will remain a committed taxpayer and will continue to work closely with tax authorities to actively resolve any outstanding issues related to the search,” it added.
The company also added that there were no cash seizures during the recent search contrary to some media reports.
