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of <h1>Approval Process for Special Economic Zones Under Section 80-IA: Key Steps and Requirements for Developers</h1> The procedure for approval of special economic zones (SEZs) under section 80-IA of the Income-tax Act involves submitting applications with project details to the State's Chief Secretary. The application must include information on location, infrastructure, financials, foreign equity, and industry type. The State Government must ensure environmental compliance, utility provisions, tax exemptions, and regulatory delegations, forwarding these commitments to the Department of Commerce. The Board of Approval (BOA) evaluates proposals, and upon acceptance, issues a Letter of Permission to the developer. Developers and approved entities can undertake development activities, with specific equity requirements for commercial facilities. Converted export processing zones require BOA approval for infrastructure development.
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