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of <h1>Private Company's Industrial Park in Bangalore Approved Under Section 80IA(4)(iii) for Tax Benefits and Development</h1> The Central Government has notified the development of an Industrial Park by a private company in Bangalore under Section 80IA(4)(iii) of the Income-tax Act, 1961. The park, named Salarpuria Hallmark, is approved for activities like data processing, software development, and consultancy services. It spans 41,356.77 square meters with a 100% industrial use allocation. The project requires a minimum of three industrial units, with a total proposed investment of 52.91 crores INR. The park must commence by March 31, 2006, and adhere to specified conditions to maintain tax benefits. Any changes or non-compliance may invalidate the approval.
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