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TMI BlogFor the purpose of Section 80IA(4)(iii) - Industrial Part of M/s. Vizag IT Park Limited, Visakhapatnam notifiedX X X X Extracts X X X X X X X X Extracts X X X X ..... y and Promotion) vide Number S.O.193(E), dated the 30th March, 1999, for the period beginning on the 1stday of April, 1997 and ending on the 31st day of March, 2002 and vide Number S.O. 354(E) dated the 1st day of April, 2002, of the period beginning on the 1st day of April, 1997 and ending on the 31st day of March, 2006; And whereas M/s. Vizag IT Park Limited, having registered office at VUDA Compound, Siripuram, Visakhapatnam-530 003, is developing an Industrial Park at VUDA Compound Siripuram, Visakhapatnam, (Visakhapatnam District), Andhra Pradesh-530003; And whereas the Central Government has approved the said Industrial Park vide Ministry of Commerce and Industry letter No. 15/18/04-IP ID dated 1-9-2004 subject to the term ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 892 -- Data Processing, software development and computer consultancy services. ( v ) Percentage of allocable area earmarked for industrial use : 85% ( vi ) Percentage of allocable area earmarked for commercial use : 5% ( vii ) Minimum number of industrial units : 5 Units ( viii )Total investments proposed (Amount in Rupees) : 35 crores ( ix ) Investment on built up space for Industrial use (Amount in Rupees) : 25 crores ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t Indian investment by the Foreign Investment Promotion Board or Reserve Bank of India or any authority specified under any law for the time being in force, shall be taken separately as per the policy and procedures in force. 6. The tax benefits under the Act can be availed of only after the number of units indicated in Para 1(vii) of this Notification, are located in the Industrial Park. 7. M/s. Vizag IT Park Limited, Visakhapatnam, shall continue to operate the Industrial Park during the period in which the benefits under clause ( iii ) of sub-section (4) of section 80-IA of the Income-tax Act, 1961 are to be availed. 8. In case the commencement of the Industrial Park is delayed by more than one year from the date indicated in Pa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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