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of <h1>Central Govt Approves Tax Benefits for Bangalore Industrial Park u/s 80-IA of Income-tax Act, 1961.</h1> The Central Government, under Section 80-IA of the Income-tax Act, 1961, has notified an industrial park developed by a private company in Bangalore, Karnataka. The park spans 24,636 square meters and is designated for activities like data processing, software development, and consultancy services. It allocates 92.32% of its area for industrial use and 7.68% for commercial use, with a minimum of four industrial units. The total proposed investment is Rs. 47.78 crore. The notification outlines conditions for maintaining tax benefits, infrastructure investment requirements, and compliance with the Industrial Park Scheme, 2002. Non-compliance may lead to withdrawal of approval.
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