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of <h1>Central Government Approves BIP Developers' Industrial Park in Bangalore Under Section 80IA(4)(iii) with Key Conditions</h1> The Central Government has notified M/s. BIP Developers Private Limited's Industrial Park in Bangalore under Section 80IA(4)(iii) of the Income-tax Act, 1961. The park spans 48,957 square meters, earmarking 90.01% for industrial use and 9.99% for commercial use, with a minimum of seven industrial units. The total investment is approximately 532 million Rupees, with specific allocations for infrastructure and industrial space development. The park must commence by November 30, 2005, to maintain approval. Conditions include maintaining operation during tax benefit periods, adhering to infrastructure investment minimums, and obtaining necessary approvals. Non-compliance or misinformation can invalidate approval.
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