MEDICAL RELIEF PROJECT AT AHMEDABAD BY DARDIONO RAHAT FUND, AHMEDABAD 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 – Amendment in Notification No. S.O. 399(E), dated 6-6-1996

NOTIFICATION NO. 25/2011 [F.NO.V-27015/1/2011-SO(NAT.COM)]/S.O. 866(E), DATED 27-4-2011

WHEREAS by Notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 399(E), dated the 6th June, 1996, 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 11, “Medical Relief Project at Ahmedabad” by Dardiono Rahat Fund, 102, Kashi Parekh Complex, 29, Adarsh Society, Navrangpura, Ahmedabad – 380009, as an eligible project or scheme for a period of three years beginning with assessment year 1997-98 which was extended further vide Notification number S.O. 312(E), dated the 11th May, 1999 for a period of three years beginning with assessment year 2000-01 which was extended further vide Notification number S.O.608(E), dated the 7th June, 2002 for a period of three years beginning with assessment year 2003-04; which was extended further vide Notification number S.O.1601(E), dated the 14th November, 2005 for a period of three years beginning with financial year 2005-06 and which was extended further vide Notification number S.O.1317(E), dated the 4th June, 2008 for a period of three years beginning with financial year 2008-09;

AND WHEREAS by Notification number S.O.312(E), dated the 11th May, 1999 the estimated cost was enhanced from Rs. 75.00 lakh to Rs. 137.08 lakh and vide Notification number S.O. 510(E), dated the 19th April, 2004 the estimated cost was further enhanced from Rs.137.08 lakh to Rs. 157.08 lakh and vide Notification number S.O.1601(E), dated the 14th November, 2005 the estimated cost was further enhanced from Rs. 157.08 lakh to Rs. 229.08 lakh and vide Notification number S.O.1317(E), dated 4th June, 2008 the estimated cost was further enhanced from Rs. 229.08 lakh to Rs. 324.08 lakh;

AND WHEREAS the said project or scheme is likely to extend beyond fifteen year;

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 and enhancing the project cost from Rs. 324.08 lakh to Rs. 454.08 lakh;

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 notifies the scheme or project “Medical Relief Project at Ahmedabad”, which is being carried out by Dardiono Rahat Fund, 102, Kashi Parekh Complex, 29, Adarsh Society, Navrangpura, Ahmedabad – 380009 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;

(b)  further amends the said Notification number S.O. 399(E), dated the 6th June, 1996, to the following effect, namely :-

In the said Notification, in the Table against serial number 11, in column (4) relating to maximum amount of cost to be allowed as deduction under section 35AC, for the letters, figures and word “Rs. 324.08 lakh”, the letters, figures and word “Rs. 454.08 lakh” shall be substituted.

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