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of <h1>Central Government Approves ML Towers Industrial Park in Navi Mumbai u/s 80IA(4)(iii) for Data and Software Services.</h1> The Central Government has notified M/s. Maddi Lakshmaiah & Co. Limited's development of an industrial park, 'ML Towers,' in Navi Mumbai under Section 80IA(4)(iii) of the Income-tax Act, 1961. The park spans 22,231 square meters and is intended for data processing, software development, and consultancy services. It allocates 90.50% of its area for industrial use and 9.50% for commercial use, with a minimum of three industrial units required. The project involves a total investment of 61.55 crores INR, with specific conditions for infrastructure development and compliance with government regulations. Non-compliance may lead to withdrawal of approval.
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