The income-tax department is likely to scrutinise tax returns of over 700 top companies, which include A Group category companies listed on the Bombay Stock Exchange and NSE-500, to detect possible tax evasion.
As part of the finance ministrys efforts to meet the target of corporate and income tax collections for the current fiscal, all NSE-500 companies and BSE A Group companies listed as on March 31, 2007, will be compulsorily scrutinised, official sources said. Today, 217 companies are listed on BSE under the A Group.
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