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of <h1>Industrial Park in Mewar Notified Under Section 80-IA(4)(iii) for Tax Benefits; Compliance Required to Maintain Approval</h1> The Central Government has notified an industrial park at Mewar Industrial Area, Udaipur, operated by a state corporation, under section 80-IA(4)(iii) of the Income-tax Act, 1961. The park spans 58 acres, with 88.61% for industrial use and 5.74% for commercial use, requiring a minimum of 85 industrial units. The total investment is 515 lakhs INR, with infrastructure development constituting at least 50% of the project cost. The park's commencement was scheduled for January 2006. Compliance with specified conditions is mandatory for tax benefits, and any non-compliance may invalidate the approval.
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