9911796707
TMI BlogIndustrial Park Scheme, 1999X X X X Extracts X X X X X X X X Extracts X X X X ..... . Definitions .- In this Scheme, unless the context otherwise requires. - (a) Act means Income Tax Act, 1961 (43 of 1961); (b) allocable area means, - (i) in the case of an industrial park referred to in sub-paragraph (b) of paragraph 4, the net floor area available for allocation but excluding the built up space used for providing common facilities; (ii) in any other case, the net area available for allocation for industrial, commercial or residential purpose but excluding the areas used for providing common facilities; (c) common facilities includes the facilities of air conditioning, roads (including approach roads), water supply and sewerage, common effluent treatment facility, telecom ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pment by providing plots or sheds and common facilities within its precincts; or (b) an industrial park for development of infrastructural facilities or built-up space with common facilities in any area allotted or earmarked for the purposes of software development, gems and jewellery, electronics hardware; or (c) a Growth Centre under the Growth Centre Scheme of the Government of India: Provided that the scheme referred in this clause is implemented by an undertaking and the Growth Centre is distinctly developed as a separate profit centre. 5. Automatic approval- (1) An undertaking shall make an application in the Form-IPS-1 along with an affidavit certifying the details given in such application for o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ly:- (a) The minimum area required to be developed for an Industrial Model Town shall be 1000 acres: Provided that minimum area for specified industrial park referred to in clause (b) and (c) of paragraph 4 may vary depending upon their activities; (b) The project referred to in clauses (a) and (b) of paragraph 4 shall have provision for the location of minimum number of industrial units as follows:- Table Type of industrial park Minimum Number of units to be provided in the industrial model town/industrial park (1) (2) (i) Industrial Model Town referred to in clause ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e on infrastructure development including cost of construction of industrial space, shall not be less than 60% of the total project cost; (f) No single unit referred to in column (2) of the Table given in the sub-paragraph (b) of paragraph 6 shall occupy more than fifty per cent, of the allocable industrial area of an industrial model town or industrial park; (g) Every undertaking being an industrial park shall obtain approval for Foreign Direct Investment or non resident Indian investment from the Foreign Investment Promotion Board or Reserve Bank of India, or any authority specified under any law for the time being in force as the case may be. 7 Non Automatic Approval- (1) All applications not eligible for Aut ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee shall consider each application on a case to case basis, subject to its complying with the statutory requirements as prescribed by the Ministry of Finance under the Income Tax Act, 1961, and other applicable statutory rules/obligations. The Committee will consider each case on its merit and grant approval subject to such other conditions as may be deemed fit by it. However, in all cases of rejection of proposals, the applicants shall be afforded an opportunity of being heard by the Committee and the orders shall be passed and communicated within twelve weeks. The Committee may also periodically review implementation of the approved proposals. (4) The Empowered Committee will hold meetings whenever necessary. All Industr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... transferor and transferee shall jointly intimate to the Entrepreneurial Assistance Unit of the Secretariat for Industrial Assistance, Department of Industrial Policy and Promotion, Udyog Bhawan, New Delhi-11 along with a copy of the agreement executed between the transferor and transferee undertaking for the aforesaid transfer. Secretariat for Industrial Assistance shall on receipt of each such intimation issue a communication to the applicants of having taken the intimation on record. (3) Every undertaking which has been granted approval shall furnish to the Central Government on 1st January and 1st July of every year a report in the form Number IPS-II. [F. No. 10(8)/97-ID(Vol. II)] ASHOK KUMAR, Jt. Secy. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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