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Tax sops for Industrial Park Scheme extended
May, 25th 2010

The Central Board of Direct Taxes (CBDT) has amended the Industrial Park Scheme 2008 and Rule 18C of the Income-tax Rules, 1962, to extend the ending date of operation of the scheme to March 31, 2011, an official statement said here on Monday.

Under the Scheme, the undertaking notified under Rule 18C of the I-T Rules, 1962, which begins to develop and operate or maintain and operate an industrial park anytime during the period beginning April 1, 2006, and ending on March 31, 2009, is entitled to benefits under Sec. 80IA(4)(iii) of the Income-tax Act, 1961. The Finance Act (No. 2), 2009, had extended the ending date of the scheme from March 31, 2009 to March 31, 2011.

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