None of the cases are related to the "Football Leaks" scandal, which has accused a host of Madrid players, including three-time World Player of the Year Cristiano Ronaldo, of hiding income from image rights in tax havens in recent days.
Prosecution sources said the Spanish inland revenue has not provided them with any details over Ronaldo's tax dealings.
Ronaldo has strongly denied any wrongdoing via his representatives Gestifute.
Argentine winger Di Maria is now at French champions Paris Saint-Germain, whilst 38-year-old veteran Carvalho was released by Monaco in August.
The identity of the other two players facing investigation was not revealed.
However, Spanish media reported Real defender Fabio Coentrao and Monaco striker Radamel Falcao, formerly of Atletico Madrid, are the two in question.
In a statement Madrid prosecutors insisted they "will always pursue infringements against the public coffers, whenever there is a crime.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
