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<h1>Central Government Approves Private Industrial Park Development Under Section 80IA(4)(iii) of Income-tax Act, 1961</h1> The Central Government has notified the development of an Industrial Park by a private company under Section 80IA(4)(iii) of the Income-tax Act, 1961. Located in Bangalore, the park spans 30,336.30 square meters and is dedicated entirely to industrial use, with activities including software development, consultancy, and technical testing. The project requires a minimum investment of 85 crore rupees, with at least 60% allocated to infrastructure. The park must host a minimum of five industrial units, and tax benefits are contingent upon compliance with specified conditions. Any changes to the project plan require government approval, and non-compliance may lead to withdrawal of approval.