M/s. Ascendas IT Park (Chennai) Ltd. Notified as an industrial park for the purposes of Section 80-IA(4) - 15/2017 - Income Tax

Industrial park designation conditions access to tax incentives based on infrastructure, unit thresholds and ongoing compliance.

Notification designates M/s. Ascendas IT Park (Chennai) Ltd. as an industrial park under the relevant income tax clause, listing project particulars (location, area, NIC activities, allocable area percentages, minimum units, investment and commencement date) and annexed conditions. Key operative requirements: prescribed minimum infrastructure expenditure proportions (higher where built up industrial space is provided); infrastructure defined to include roads, water, sewerage, CETF, telecom, power and common facilities; single unit occupancy capped at half the allocable industrial area; separate regulatory approvals required; tax benefits conditional on locating the stipulated number of units and the notifying company's continued operation; transfer and non compliance rules specified.