Taxmen to focus on pay and perks of corporate bosses

.........At a meeting of chief commissioners last week, it was decided to focus on top companies, including public sector entities. The move is part of an exercise to bolster revenue from tax deducted at source (TDS), which has emerged as a major source of collections and information flow for the income tax department. Typically, TDS accounts for over one-third of the gross income tax collections. As a result, the compensation structure of top executives will be scrutinized “with a view to examine the nature of allowances/perks and reimbursements“, said tax department sources........

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