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of <h1>Government Approves Industrial Park Under Section 80IA(4)(iii) of Income-tax Act; Tax Benefits Linked to Compliance and Timely Commencement</h1> The Central Government, under Section 80IA(4)(iii) of the Income-tax Act, 1961, has notified an industrial park developed by a corporation in Jaipur. This park, located in Jhalawar, Rajasthan, spans 438 acres, with 77.5% allocated for industrial use and 3.3% for commercial use, hosting a minimum of 148 units. The total investment is 1816.70 lakhs, with infrastructure development costs at 1744.14 lakhs. The park must commence by March 31, 2006, to avail tax benefits. Conditions include infrastructure development, adherence to project plans, and compliance with the Industrial Park Scheme, 2002, with potential withdrawal of approval for non-compliance.
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