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<h1>Amendment to Income-tax Rules: New Criteria for Industrial Parks' Tax Benefits u/s 80-IA(4)(iii.</h1> The Income-tax (First Amendment) Rules, 2008, effective from its publication date, amends the Income-tax Rules, 1962. It replaces Rule 18C, specifying eligibility criteria for industrial parks to receive benefits under section 80-IA(4)(iii) of the Income-tax Act, 1961. The rules apply to undertakings that develop, operate, or maintain industrial parks between April 1, 2006, and March 31, 2009. These undertakings and parks must be notified by the Central Government under the Industrial Park Scheme, 2008, and must adhere to the scheme's conditions to qualify for the tax benefits.