FM says pay taxes and be healthy - LTU to be in place by July 1st
The first of the five LTUs to be set up in Bangalore, Chennai, Delhi, Kolkata and Mumbai will start functioning from 1st July. The FM addressed a seminar on LTU in Bangalore yesterday. Mr Chidambaram said more than 843 tax payers across the country pay taxes in excess of Rs five crore and of them 90 are in Bangalore. LTUs would act as single window facilitation centre for all large entities paying excise duty, corporate tax, income tax and service tax.