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

Notification No.23/2012[F.No.V-27015/1/2012-SO (NAT.COM)]/S.O. 478(E), dated 16-3-2012

Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 121(E) dated 12th January, 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 17, “Construction & running of (i) rural hub for senior citizens from small villages, (ii) Renovation/extension of old age home and (iii) extension of the existing rural hospital for ophthalmic care” by Janaseva Foundation, Indulal Complex, Above Rupee Co-op. Bank, Navi Peth, L.B.S. Road, Pune – 411030, 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 “Construction & running of (i) rural hub for senior citizens from small villages, (ii) Renovation/extension of old age home and (iii) extension of the existing rural hospital for ophthalmic care” which is being carried out by Janaseva Foundation, Indulal Complex, Above Rupee Co-op. Bank, Navi Peth, L.B.S. Road, Pune – 411030, without any change in the approved cost of Rs. 2.00 crore, as an eligible project or scheme for a further period of three years commencing with the financial year 2011-12 i.e. 2011-12, 2012-13 & 2013-14.

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Category : Income Tax (28372)
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