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of <h1>Central Government Approves Bangalore Industrial Park Under Section 80-IA, Offering Tax Benefits for Compliance</h1> The Central Government has notified an industrial park developed by a private company in Bangalore under Section 80-IA of the Income-tax Act, 1961. The park, located in Whitefield, Bangalore, covers 10,711 square meters and is designated for industrial and limited commercial use. It includes activities like manufacturing electrical machinery and software development. The project requires a minimum of three industrial units and an investment of over 10 crore rupees. Tax benefits are contingent upon meeting specified conditions, including maintaining operations and adhering to the Industrial Park Scheme. Non-compliance or misinformation may invalidate the approval.
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