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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Industrial Park Scheme Amended: New Definition of 'Industrial Activity' and Area Allocation Rules Under Income-tax Act.</h1> The Industrial Park (Amendment) Scheme, 2008, effective from its publication date, modifies the Industrial Park Scheme, 2008 under the Income-tax Act, 1961. Key amendments include the removal of clause (d) in para (2) and a revised definition of 'industrial activity' to encompass manufacturing, research and development, computer software development, and IT-enabled services. The scheme mandates that at least 75% of the allocable area be designated for industrial units, with a maximum of 10% for commercial activities. The minimum constructed floor area is set at 15,000 square meters, and industrial units must engage in specified activities.
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