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of <h1>Mumbai Industrial Park Gains Tax Benefits Under Section 80-IA(4)(iii) with Industrial Park Scheme, 2008 Compliance</h1> The Central Government has notified an industrial park developed by a realty company in Mumbai under the Industrial Park Scheme, 2008, as eligible for tax benefits under Section 80-IA(4)(iii) of the Income Tax Act. The park, located at Marathon Nextgen Innova IT Building, must meet specific conditions, including a minimum constructed floor area of 15,000 square meters, 75% of the area allocated for industrial use, and a minimum of 30 industrial units. The undertaking must maintain separate accounts, file tax returns timely, and adhere to the scheme's conditions to retain eligibility for tax benefits.
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