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of <h1>Mumbai Industrial Park Gains Tax Benefits Under Section 80IA(4)(iii); Major Investment in Infrastructure Development</h1> The Central Government has notified an Industrial Park developed by a Mumbai-based company under Section 80IA(4)(iii) of the Income-tax Act, 1961. The park, located in Andheri (East), Mumbai, covers 16,337.58 square meters and is dedicated primarily to industrial activities, with 94.44% of the area allocated for this purpose. The project involves an investment of 41.76 crores INR, with a minimum of 50% allocated to infrastructure development. The park must house at least four industrial units to qualify for tax benefits. The company is responsible for maintaining compliance with the conditions set forth in the notification and the Industrial Park Scheme, 2002.
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