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M/s. Ascendas IT Park (Chennai) Ltd. Notified as an industrial park for the purposes of Section 80-IA(4)

M/s. Ascendas IT Park (Chennai) Ltd. Notified as an industrial park for the purposes of Section 80-IA(4) - Income Tax - 20/2016 - Dated:- 21-3-2016 - MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION No. 20/2016 New Delhi, the 21st March, 2016 (INCOME-TAX) S.O. 1172(E).- 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 th .....

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ey No.TS 8/1, Block No.9 Survey No.TS1/7, Block No.7, Survey No.TS 9/2 Block No.9 and Survey No.TS 1/1, Block No.7, Kanagam Village Thiruvanmiyur Village, Mambalam-Guindy Taluk/ Mylapore-Triplicane Taluka, Chennai, Tamil Nadu - 600 113. Now, therefore, in exercise of the powers conferred by clause (iii) of sub-section (4) of section 80-IA of the said Act, read with rule 18C of the Income-tax Rules, 1962, the Central Government hereby notifies the undertaking from the date of commencement of the .....

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i) subject to the terms and conditions mentioned in the Annexure to this notification. ANNEXURE The terms and conditions on which the approval of the Government of India has been accorded for setting up of an industrial park by M/s. Ascendas IT Park (Chennai) Ltd. (i) Name of the industrial undertaking : M/s. Ascendas IT Park (Chennai) Ltd. (ii) Proposed location : Plot No.9, Survey No.TS 8/1, Block No.9 Survey No.TS1/7, Block No.7, Survey No.TS 9/2 Block No.9 and Survey No.TS 1/1, Block no.7, K .....

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use : 75% or more. (vi) Percentage of allocable area earmarked for commercial use : 10% or less. (vii) Minimum number of industrial units : 30 units. (viii) Date of commencement : 31st March, 2011. 2. The industrial park shall be construed as developed on the date of its commencement that is, the 31st March, 2011. 3. The industrial park should be owned by one undertaking. 4. The tax benefits under the Income-tax Act, 1961 shall be available to the undertaking only if minimum number of thirty ind .....

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n who may subsequently develop, develops and operates or maintains and operates the notified industrial park, for any reason. 7. The undertaking, subject to the fulfillment of the term and conditions mentioned in this notification, may at its option claim deduction under clause (iii) of sub-section (4) of section 80-IA of the Income-tax Act, 1961 for any ten consecutive assessment years out of fifteen years beginning from the assessment year relevant to the date of commencement of industrial par .....

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