Officials said seven teams of the income tax department began inspecting the premises of the actors in Kochi, Bangalore, Chennai and Thiruvananthapuram.
Raids are currently on at Mammootty's production company Play House in Chennai. His houses in Chennai and Kochi are being raided too.
The IT raids are also underway in Kochi at superstar Mohanlal's production and distribution company - Max Labs and Ashirwad house. Mohanlal also has a film studio - Viesmaya cinemax, which is also being raided.
His residence in Trivandrum where his mother lives was raided too. Mohanlal also owns some hotels in Bangalore and had recently bought a plush house in the world's tallest tower, Burj Khalifa, in Dubai.
Mohanlal is shooting for a film in Rameshwaram, while Mammootty is in Chennai.
