« Top Headlines » Open DEMAT Account in 24 hrs  Delhi HC Rules GST Registration Cannot Be Cancelled Retrospectively Without a Clear Show Cause Notice (SCN)  Belated income tax return AY 2026-27: How to file, late filing charges and what you may lose  Major Financial Changes from August 1, 2026: ITR Deadline, RBI MPC Meeting, Tatkal Ticket Rules & More  Government proposes to ease tax relief conditions for offshore funds  TallyPrime Connected Banking: Automating Banking and Accounting  ITR Filing Deadline 2026: Is July 31 the Last Date to File Your Income Tax Return? Latest Official Update  ITR filing deadline nears: How to file income tax return online on e-filing portal - quick 15-step guide  Will the ITR Filing Deadline Be Extended Beyond July 31 for FY 2025-26? Here's the Latest Update for Taxpayers  Income Tax Refund Delayed for AY 2026-27? 5 Common Reasons Your Refund May Be Stuck and How to Fix It  ITR Filing 2026: FM Nirmala Sitharaman Asks Tax Officials to Let Honest Taxpayers Correct Genuine Mistakes  Will Your FCNR Deposit Stay Tax-Free After Returning to India? Tax Rules Explained for NRIs «  Finmin moots sweeping changes in subsidy schemes... Direct tax collection grows 61% in four months... » LTUs to come up in Bangalore, Chennai: CBDT August, 10th 2006 The Finance Ministry on Tuesday said the first Large Taxpayers Unit (LTU), a single window facility for big corporates, will be set up in Bangalore on October 1 and the second unit is expected to come up in Chennai subsequently. Opening of offices in Delhi, Kolkata and Mumbai and then to smaller ones would depend on receipt of sufficient participation from the large taxpayers, Central Board of Direct Taxes (CBDT) Chairperson M H Kherawala said at a CII seminar. The government is committed to make LTUs model unit for the world, she said. Finance Minister P Chidambaram had proposed setting up LTUs in Budget 2005-06, with a view to reduce the tax compliance costs and delays for the LTUs. The scheme entails opening up of a single window facilitation centre for all large entities paying excise duty, corporate tax /income tax and service tax. It would cover those units who paid excise duty or service tax of Rs five crore or more or a corporation tax of Rs 10 crore or plus. Customs and Central Excise Director General (Systems) V Sridhar said, to begin with, the returns of the company and its units could be filed electronically and the payment of tax/duty could be made electronically. Gradually there is a proposal to provide these units with required software and infrastructure to enable them to submit other documentations electronically, he added. He said since the corporates could choose to opt out of the LTUs scheme after a year of registration, there would be pressure on the government to ensure that the assured benefits accrue to the industries to hold their interest and participation.