CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Indian Government Notifies Changes To Industrial Park Scheme

Indian Government Notifies Changes To Industrial Park Scheme

by Lorys Charalambous, Tax-News.com, Cyprus

07 July 2008


India's Central Board of Direct Taxes on Tuesday notified amendments to the Industrial Park Scheme 2008 under sub-section (4) of section 80IA of the Income Tax Act, 1961.

According to the amended scheme, the ambit of “industrial activity” has been expanded to include, according to a government statement: "(i) research and experimental development on natural sciences and engineering as defined in section K, division 73, group 731 of the National Industrial Classification, 2004 Code, issued by the Central Statistical Organisation, Department of Statistics; (ii) development of computer software; and (iii) information technology enabled services as notified vide notification number S.O. 890(E), dated the 26th September 2000 for the purposes of sections 10A, 10B and 80HHE of the Income Tax Act, 1961."

The government further revealed that:

"The minimum constructed floor area has been reduced to 15,000 square meters (from the earlier 50,000 square meters); the area allocated or to be allocated to industrial units has been reduced to 75% of the allocable area (from earlier 90%); and provision has been made to allocate area for commercial activity with a cap of 10% of the allocable area. The original scheme was notified on 8th January 2008."


To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »