« Top Headlines » Open DEMAT Account in 24 hrs  How to Change Current Period in Tally Prime Step-by-Step Guide for Users  Global Payroll Management with Tally Prime: How International Businesses Use It Beyond India  How to Manage B2B HSN Codes in Tally Prime: A Complete Guide for Businesses  How to Check Business Revenue in Tally Prime: A Complete Step-by-Step Guide  MSME Payment Rule in Tally Prime: Understanding the Law and Its Impact on Businesses in 2025 The MSME (Micro, Small and Medium Enterprises) Payment Rule is a legal framework introduced under th  Multipurpose Empanelment Form (MEF) 2025 26 Meaning, Purpose, and How to Manage It in Tally Prime  GST Appellate Tribunal (GSTAT) Structure, Powers, and Its Relevance in Tally Prime Implementation  How Tally Prime Supports the Real Estate & Construction Industry in India  Comparison Between Tally Prime 6.1 and Tally Prime 6.2  How Tally Prime Renewal Helps Save My Data  Where to Buy Tally Prime 7.0 at the Best Rates Possible «  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.