As per report the Income Tax department on wednesday carried out searches at Hyderabad-based Kolors Healthcare india Private Limited suspecting them of evading tax. Meanwhile the searches were reportedly carried out in 48 locations across the country including telangana and Andhra Pradesh. Reportedly Kolors Healthcare is into health, beauty, weight loss and fitness among several others and the company is owned by vijay krishna Devula and his partner G Nagachandra Venkata Rayudu. vijay krishna Devula is reportedly a relative of veteran telugu actor, Raasi.
Reportedly the searches were carried at the actor’s residence as well. The officials seized several documents and receipts as evidence. Further no cash was seized in the raid. Officials reportedly said that they can confirm about tax evasion only after scrutinizing the seized documents. Perhaps over 22 locations in telangana and andhra pradesh were searched including the residence of vijay krishna Devula and Nagachandra Venkata Rayudu.
Moreover Kolors, which claims to be a health service provider, has branches across telangana, andhra pradesh, tamilnadu, karnataka, maharashtra and madhya pradesh and the head office of Kolors is located in Karkhana, Secunderabad. Apparently in telangana itself, the health care centre has 10 branches, including six in Hyderabad.
