SECTION 35AC, READ WITH EXPLANATION (B) THERETO OF THE INCOME-TAX ACT, 1961 – ELIGIBLE PROJECTS OR SCHEMES, EXPENDITURE ON – NOTIFIED ELIGIBLE PROJECTS OR SCHEMES – INDIAN RED CROSS SOCIETY, HYDERABAD
NOTIFICATION NO. 75/2012 [F. NO. V.27015/3/2012-SO (NAT.COM)]/S.O. 2403(E), DATED 9-10-2012
Whereas by notification of the Government of India, in the Ministry of “Finance (Department of Revenue) number S.O. 614(E) dated 18th March, 2010, 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 11, “1) Upgrading of Red Cross Blood Banks in Andhra Pradesh, 2) Construction of AYUSH Hospital with a research centre, 3) Establishing medicine banks in 23 districts of Andhra Pradesh, 4) Construction of cottages for senior citizens (old age home) at Senior citizens resort, Nazebnagar, Ranga Reddy district and 5) Construction of Administrative block of Indian Red Cross society , A.P. State branch” by Indian Red Cross Society, H.No.3-6-212, Street No. 15, Himayatnagar, Hyderabad 500 029, Andhra Pradesh, 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 “1) Upgrading of Red Cross Blood Banks in Andhra Pradesh, 2) Construction of AYUSH Hospital with a research centre, 3) Establishing medicine banks in 23 districts of Andhra Pradesh, 4) Construction of cottages for senior citizens (old age home) at Senior citizens resort, Nazebnagar, Ranga Reddy district and 5) Construction of Administrative block of Indian Red Cross society , A.P. State branch” which is being carried out by Indian Red Cross Society, H.No.3-6-212, Street No. 15, Himayatnagar, Hyderabad 500 029, Andhra Pradesh, without any change in the approved cost of Rs. 70.62 crores, 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.
