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of <h1>Central Government Approves Tax Benefits for Mumbai Industrial Park u/s 80IA(4)(iii) of Income-tax Act, 1961.</h1> The Central Government has notified an Industrial Park developed by a private company in Mumbai under Section 80IA(4)(iii) of the Income-tax Act, 1961. Located in Bangalore, the park spans 26,631 square meters and is earmarked for industrial and commercial use. The project involves significant investment in infrastructure and industrial space, with a minimum of three industrial units required. The park must comply with specific conditions and obtain necessary approvals for foreign investments. Tax benefits are contingent on adherence to these terms, and any changes or non-compliance could invalidate the approval. The park's operation must continue during the benefit period.
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