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of <h1>Govt Approves Industrial Park Project in Mumbai Under Section 80IA(4)(iii) for Tax Benefits, Requires Strict Compliance</h1> The Central Government has notified an Industrial Park project by a construction company in Mumbai under Section 80IA(4)(iii) of the Income-tax Act, 1961. The park is located in Marol Village, Mumbai, covering 17,216.45 square meters, with 90.43% of the area designated for industrial use and 9.57% for commercial use. The project involves activities like data processing and consultancy services, with a minimum of three industrial units and a total investment of 2000 lakhs INR. The approval requires adherence to specific conditions, including infrastructure development and compliance with tax laws, to avail tax benefits. Any deviation or misinformation may invalidate the approval.
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