Notification of infrastructure facility for the purposes of section 32(e)

Notification of infrastructure facility for the purposes of section 32(e).

24. The following conditions shall be fulfilled by a public facility to be eligible to be notified as an infrastructure facility under section 32(e):—

(a) it is owned by a company registered in India or by a consortium of such companies or by an authority or a board or a corporation or any other body established or constituted under any Central Act or State Act;

(b) it has entered into an agreement with the Central Government or a State Government or a local authority or any other statutory body for —

(i) developing; or

(ii) operating and maintaining; or

(iii) developing, operating and maintaining a new infrastructure facility similar in nature to an infrastructure facility referred to in the Explanation to section 80-IA(4)(i) of the Income-tax Act, 1961 (43 of 1961), as it existed prior to its repeal; and

(c) it has started or starts operating and maintaining such infrastructure facility on or after the 1st April, 1995.