ALTSHIFT_TAPS megafunction in Quartus II 9.1

What device are you targeting? It should be in there.

Note that Quartus synthesis does an excellent job of finding shift-registers and inferring altshift_taps, so there generally isn't any reason to manually instantiate the megafunction. The one thing to avoid in the RTL is a clear on the shift register(asynchronous or synchronous) since the memory block can't have its contents cleared in one cycle. I think altshift_taps inference has a way around this, but it's probably better to avoid the clear if you can(and most shift-registers can).

I am targeting Cyclone III EP3C25F324C8. If synthesis tool automatically infers ALTSHIFT_TAPS for shift registers, It should be captured in some report file. Which report file should I look for.

Thanks

I am a bit unsure about your issue.

shift registers are not a hardwired case to be inferred like say multipliers.

Unless you mean shift implemented in ram. In that case you can look at resource section of fitter (resource by entity)