LTUs in Bangalore and the four metros
Large Tax Payers Units (LTUs), would be established in the four metros and Bangalore from March according to Union Minister of State for Finance, S S Palanimanickam. He was addressing a seminar on 'Formation of LTUs in India’ jointly organised by the CBEC and CBDT in Chennai yesterday. To start with, LTUs will be optional. The minister said that "This will vastly improve the efficiency in tax administration and reduce transaction costs"