Central Government Issues Notification for Industrial Park Scheme 2002, Offering Tax Deductions u/s 80-IA of Income-tax Act.

The Central Government, exercising its powers under clause (iii) of sub-section (4) of section 80-IA of the Income-tax Act, 1961, has issued Notification No. S.O. 354(E) dated April 1, 2002. This notification pertains to the Industrial Park Scheme, 2002, which outlines deductions for profits and gains from infrastructure development undertakings. The scheme is designed to support and promote the establishment and operation of industrial parks, providing tax benefits to qualifying infrastructure development projects under the specified section of the Act.