NOTIFICATION NO. 155/2006, DATED 5-7-2006
Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 606(E) dated the 7th June 2002, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 1 for Running of Omayal Achi Community Health Centre at Arakambakkam by Mr. Omayal Achi Mr. Arunachalam Trust, Coral Manor, ‘A’ Ground floor, 40-41, Second Main Road, Raja Annamalaipuram, Chennai-600 028, as an eligible project or scheme for a period of three years beginning with assessment year 2002-2003 and which was extended further vide notification number S.O. 512(E) dated the 19th April, 2004 for a period of three years beginning with assessment year 2003-2004;
And whereas the said project or scheme is likely to extend beyond six 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 specifying the said project or scheme for a further period of three years and amending the project cost from “Rs.52.00 lakhs including a corpus fund of Rs. 40.00 lakhs” to “Rs. 75.00 lakhs including a corpus fund of Rs. 63 lakhs”;
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),—
(a) hereby specifies the scheme or project for Running of Omayal Achi Community Health Centre at Arakambakkam, which is being carried out by Mr. Omayal Achi Mr. Arunachalam Trust, Coral Manor, ‘A’ Ground floor, 40-41, Second Main Road, Raja Annamalaipuram, Chennai-600 028 as an eligible project or scheme for a further period of three years commencing from the financial year 2006-2007; and
(b) further amends the said notification number S.O. 606(E) dated the 7th June, 2002, to the following effect, namely :–
in the said notification, in the Table against serial number 1, in column (4), relating to maximum amount of cost to be allowed as deduction under section 35 AC, for the letters, figures and words “Rs.52.00 lakhs including a corpus fund of Rs. 40.00 lakhs” the letters, figures and words “Rs. 75.00 lakhs including a corpus fund of Rs. 63 lakhs” shall be substituted.
[F. No. NC-274/01/2006]
