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of <h1>Industrial Park Scheme 1999: Criteria for Automatic Approval and Compliance Under Income-tax Act 1961.</h1> The Industrial Park Scheme, 1999, established by the Central Government under the Income-tax Act, 1961, aims to promote industrial infrastructure development. The scheme, effective from April 1, 1997, to March 31, 2002, outlines criteria for automatic approval of industrial parks, including minimum area requirements, unit allocation, and investment thresholds. Applications for approval must be submitted to the Secretariat for Industrial Assistance, with automatic approvals processed within 15 days. Non-automatic approvals require the Empowered Committee's review. The scheme mandates compliance with statutory requirements and allows for withdrawal of approval if conditions are unmet, ensuring continued operation and reporting by approved undertakings.
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