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of <h1>Industrial Park Scheme 2008: Tax Benefits for Notified Parks with 30+ Units under Section 80-IA; Annual Reports Required</h1> The Industrial Park Scheme, 2008 outlines conditions for tax benefits under direct taxes. An industrial park is considered developed upon commencement. Tax benefits apply only when at least thirty units are located in the park and both the undertaking and park are notified by the Central Board of Direct Taxes under section 80-IA. Benefits are exclusive to the notified undertaking, not subsequent developers. Separate accounts and timely tax returns are mandatory. Parks approved under the 2002 scheme remain governed by it unless it conflicts with current laws. An annual report must be submitted electronically to the board.
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