THE Central Board of Direct Taxes (CBDT) has amended the Industrial Park Scheme 2008 and Rule 18C of the Income Tax Rules, 1962 to give effect to the extension of the ending date of operation of the Scheme to 31st March 2011.

Under the Industrial Park Scheme 2008, the undertaking notified under rule 18C of the Income Tax Rules, 1962, which begins to develop and operate or maintain and operate an industrial park anytime during the period beginning the 1st day of April 2006 and ending on the 31st day of March 2009, is entitled to benefits under section 80IA(4)(iii) of the Income Tax Act, 1961. The Finance Act (No.2) 2009 had extended the ending date of the scheme from 31st March 2009 to 31st March 2011.


Notification No. 38/2010, F. No. 149/52/2010-SO(TPL), dated 21-5-2010

In exercise of the powers conferred by section 295 read with clause (iii) of sub-section (4) of section 80-IA of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely ;-

1. (1) These rules may be called the Income-tax (5th Amendment) Rules, 2010.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Income-tax Rules, 1962, in rule 18C, in sub-rule (1), for the figures “2009”, the figures “2011” shall be substituted.

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January 2021