| |
| | |  Advertisement | | |
| |
February 04, 2008 12:11 IST
Large taxpayers units would soon be set up in New Delhi and Mumbai, similar to the ones opened in Bangalore and Chennai, Finance Minister P Chidambaram has said.
The LTU in Mumbai will come up next month, while in the national capital it will be opened in April, Chidambaram said inaugurating the country's second LTU in Mumbai on Sunday.
The first LTU was set up in Bangalore in 2006.
"LTUs are being set up to find solutions to the difficulties faced by big organisations having branches or units in many parts of the country. This system is followed in many countries including our neighbours, Sri Lanka and Pakistan," Chidambaram said.
As many as 25 big taxpayers have already registered themselves with the LTU in Chennai, Chidambaram said, adding that the unit was expected to collect Rs 8,000 crore (Rs 80 billion) as various taxes.
The Bangalore LTU had collected Rs 1,756 crore (Rs 17.56 billion) last financial year, he added.
LTU is a single-window facility for payers of large amounts of tax, including Central Excise, Corporate and Income Tax.
© Copyright 2008 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
|
| |
Email this Article 
Print this Article