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of <h1>Private Company's Industrial Park in Bangalore Notified Under Section 80IA(4)(iii) for Tax Benefits and Compliance</h1> The Central Government has notified an Industrial Park being developed by a private company in Bangalore under Section 80IA(4)(iii) of the Income-tax Act, 1961. The park covers 77,983.28 square meters, with 90.07% allocated for industrial use and 9.93% for commercial use. The minimum investment on infrastructure must be at least 50% of the total project cost. The park's activities include data processing, software development, and consultancy services. Approval is contingent on compliance with specified conditions, and tax benefits are available only after the establishment of a minimum of four industrial units. Non-compliance may lead to withdrawal of approval.
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