Notification No. 2/2008, Dated 8-1-2008
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 (First Amendment) Rules, 2008.
2. They shall come into force on the date of their publication in the Official Gazette.
In the Income-tax Rules, 1962, for rule 18C, the following shall be substituted, namely:-
“Eligibility of Industrial Parks for benefits under section 80-IA (4)(iii) 18C.
(1) The undertaking shall begin to develop, develop and operate or maintain and operate an industrial park any time during the period beginning on the 1st day of April, 2006, and ending on the 31st day of March, 2009.
(2) The undertaking and the Industrial Park shall be notified by the Central Government under the Industrial Park Scheme, 2008.
(3) The undertaking shall continue to fulfill the conditions envisaged in the Industrial Park Scheme, 2008.”
[F.No.149/278/2006-TPL]
