Section 80-IA (4) (iii) – Deductions- Notified Undertakings

Posted: 06/01/2013 in Income Tax, Notifications
Tags: , , ,

SECTION 80-IA, SUB-CLAUSE (iii) OF SUB-SECTION (4) OF THE INCOME-TAX ACT, 1961 – DEDUCTIONS – IN RESPECT OF PROFITS AND GAINS FROM INDUSTRIAL UNDERTAKINGS, OR ENTERPRISES ENGAGED IN INFRASTRUCTURE DEVELOPMENT, ETC. – NOTIFIED UNDERTAKINGS

Notification No. 55/2012, [F.NO. 178/49/2009-ITA-I], Dated 28.12.2012

Whereas the Central Government in exercise of the powers conferred by clause (iii) of sub-section (4) of section 80-IA of the Income-tax Act, 1961(43 of 1961)(hereinafter referred to as the said Act), has framed and notified a scheme for industrial park, by the notifications of the Government of India in the Ministry of Commerce and Industry (Department of Industrial Policy and Promotion) vide number S.O. 193 (E), dated the 30th March, 1999 for the period beginning on the 1st day of April, 1997 and ending on the 31st day of March 2002 and vide number S.O.354(E) dated the 31st day of March, 2006;

And whereas M/s. iLABS Hyderabad Technology Centre Private Ltd. having its registered office at iLABS Centre, Building No. 3, Plot No. 18, Software Units Layout, Madhapur, Hyderabad-500 081, is developing an Industrial Park at Plot No. 18, Software Units Layout Town/Tehsil-Madhapur, District-Hyderabad, AP-500 081;

And whereas the Central Government has approved the said Industrial Park vide Ministry of Commerce and Industry letter No. 15/37/2006-ID-II dated 03-03-2009 subject to the terms and conditions mentioned therein as subsequently amended vide Ministry of Commerce and Industry letter No. 15/37/2006-ID-II dated 10.4.2012;

Now, therefore, in exercise of the powers conferred by clause (iii) of sub-section (4) of section 80-IA of the said Act, the Central Government hereby notifies the undertaking, being developed and being maintained and operated by M/s. iLABS Hyderabad Technology Centre Pvt. Ltd., Hyderabad, as an industrial park for the purposes of the said clause (iii) subject to the terms and conditions mentioned in the annexure of the notification.

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Click here to download the complete text of the above Notification in PDF Format.

Source: Income Tax Department- India.

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