Taxmen to target four key segments

 According to finance ministry sources, the department will also ask the Registrar of Companies to provide it with information on the number of registered companies on its rolls to ensure that all of them file their returns.

 This is a measure to widen the tax base, given the fact that despite the Finance Act, 2001, making filing of returns mandatory for all registered companies, there were several stop-filers.

 The sources said income-tax officials would monitor the advance tax payments of multinational companies and their associates to check if they had adhered to the new provisions for transfer pricing on related-party transactions.

 The department has decided to enforce these measures in the current fiscal to meet the 17.6 per cent growth target in income-tax collection.

 It has accordingly informed all the tax ranges to take up innovative measures by simultaneously deepening collection from the existing assessee base as well as broadening the tax base itself.

 The move to keep a tab on share transactions is part of the department