SECTION 35AC, READ WITH EXPLANATION (B) THERETO OF THE INCOME-TAX ACT, 1961 – ELIGIBLE PROJECTS OR SCHEMES, EXPENDITURE ON – NOTIFIED ELIGIBLE PROJECTS OR SCHEMES – KRISHNAMURTHY FOUNDATION INDIA, CHENNAI
NOTIFICATION NO. 68/2012 [F. NO. V.27015/3/2012-SO (NAT.COM)]/S.O. 2396(E), DATED 9-10-2012
Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 2033(E) dated 6th August, 2009, 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 notified at serial number 2, “A proposal for development and extension of the rural school, the rural hospital & community development work” by Krishnamurti Foundation India, Vasant Vihar, Door No. 124-126 (old No. 64-65), Greenways Road, Raja, Annamalaipuram, Chennai – 600 028, Tamilnadu, as an eligible project or scheme for a period of three years beginning with financial year 2009-10;
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 “A proposal for development and extension of the rural school, the rural hospital & community development work” which is being carried out by Krishnamurti Foundation India, Vasant Vihar, Door No. 124-126 (old No.64-65), Greenways Road, Raja, Annamalaipuram, Chennai – 600 028, Tamilnadu, without any change in the approved cost of Rs. 68.12 lakh, as an eligible project or scheme for a further period of three years commencing with the financial year 2012-13 i.e. 2012-13, 2013-14 & 2014-15.
