Hyderabad, Oct 5 (IANS) The Income Tax department was conducting raids at several places in Hyderabad on Thursday.

About 100 teams of I-T sleuths were searching the premises of industrialists, businessmen and contractors. Searches were also on since early morning at their houses and offices.

The I-T department also conducted raids at some chit fund companies, finance companies and their directors.

The search was on at a few premises in areas like Kukatpally, Ameerpet, Shamshabad and Jubilee Hills.

The officials were reportedly looking into complaints of tax evasion. They were checking records of financial transactions.

The I-T sleuths were checking computers, laptops and other digital records.

Further details were awaited.