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Para 9 - General conditions - Industrial Park Scheme, 2002Extract General conditions. 9. (1) In case the commencing of the Industrial Model Town or Industrial Park or Growth Centre gets delayed by more than 1 year from the date indicated in the application, fresh approval may have to be obtained to get the benefits under the Act. This condition also applies to the existing approvals under the Indus trial Park Scheme, which envisages commissioning of the Parks, latest by March 31, 2002. (2) The tax benefits under the Act can be availed of only after the number of units indicated in the application, are located in the Industrial Park. (3) The undertaking applying for approval shall undertake to continue to operate the Industrial Model Town or Industrial Park or Growth Centre during the period in which the benefits under the Act are to be availed of. (4) In a case where an undertaking develops an Industrial Park on or after the 1st day of April, 1999 and transfers the operation and maintenance of such industrial park (i.e., transferor undertak ing) to another undertaking (i.e., the transferee undertaking), the transferor and transferee shall jointly intimate to the Entrepre neurial Assistance Unit of the Secretariat for Industrial Assist ance, Department of Industrial Policy and Promotion, Udyog Bha wan, 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. (5) Every undertaking, which has been granted approval shall continue to furnish to the Central Government on 1st January and 1st July of every year a report in the Form No. IPS-II during the period in which the benefits under the Act are to be availed of.
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