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<h1>India Approves New Industrial Park in Bengaluru u/s 80-IA, Promising Tax Benefits and Infrastructure Growth.</h1> The Government of India has approved the establishment of an industrial park by a software development company in Bengaluru, under section 80-IA of the Income-tax Act, 1961. The park is located in Whitefield, Bengaluru, and covers 17,000 square meters, with 90% allocated for industrial use and 10% for commercial use. The project requires a minimum investment of Rs. 29.5 crore, with at least 60% directed towards infrastructure development. The approval is subject to compliance with specified conditions, including the outcome of a pending writ appeal. Tax benefits are available once the specified number of units is operational.
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