IT – Expansion of existing 100 bedded multi-speciality hospital by H.M.S Education Society, Karnataka notified as an eligible scheme or project under section 35AC – NOTIFICATION NO. 9/2011

EXPANSION OF EXISTING 100 BEDDED MULTI-SPECIALITY HOSPITAL BY H.M.S EDUCATION SOCIETY, KARNATAKA NOTIFIED AS AN ELIGIBLE SCHEME OR PROJECT UNDER SECTION 35AC

Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes

NOTIFICATION NO. 9/2011 [F.NO.V-27015/1/2011-SO(NAT.COM)]/S.O. 850(E), DATED 27-4-2011

WHEREAS by Notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 737(E), dated 13th March, 2009, issued under clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 12, expansion of existing 100 bedded multi-speciality hospital (purchase of equipment, recurring cost and corpus fund) by H.M.S Education Society, Shetty Halli Road, Tumkur 572 102, Karnataka, as an eligible project or scheme for a period of three years beginning with financial year 2008-09;

AND WHEREAS the said project or scheme is likely to extend beyond three years;

AND WHEREAS the National Committee for Promotion of Social and Economic Welfare, being satisfied that the said project or scheme is being executed properly, made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1962 for extending the said project or scheme for a further period of three years;

NOW, THEREFORE, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby notifies the scheme or project for expansion of existing 100 bedded multi-speciality hospital (purchase of equipment, recurring cost and corpus fund), which is being carried out by H.M.S Education Society, Shetty Halli Road, Tumkur 572 102, Karnataka, without any change in the approved cost of Rs. 25.05 crore including a corpus fund of Rs. 9.00 crore, as an eligible project or scheme for a further period of three financial years commencing with the financial year 2011-12 i.e., 2011-12, 2012-13 & 2013-14.

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