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of <h1>Government Approves Industrial Park at Tech Park Bangalore Under Section 80-IA; 100 Units Planned, 561 Crores Investment</h1> The Central Government has approved the establishment of an industrial park by a company at International Tech Park, Bangalore, under section 80-IA of the Income-tax Act, 1961. The park, covering an area of 14,86,897.5 square feet, is designated for 91% industrial use and 9% commercial use, with plans for 100 industrial units. The project involves a total investment of 561.57 crores INR, with significant allocation towards infrastructure development. The approval is contingent upon compliance with specified conditions, including maintaining a minimum percentage of industrial use and obtaining necessary approvals for foreign investments. Non-compliance may result in withdrawal of approval.
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