NOTIFICATION NO. 14/2006, DATED 3-2-2006

S.O. (E).-     Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.232(E) dated the 24th February, 2004, issued under sub-section (1) read with clause (b) of the Explanation to section 35 AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 7, for construction of school/vocational training center Building for Autistic and Multiple Handicapped Children by Action for Autism, T 370 F, Chirag Dilli Gaon, New Delhi-110017, as an eligible project or scheme for a period of two years beginning with assessment year 2003-2004;

And whereas the said project or scheme is likely to extend beyond two 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 enhancing the project cost from Rs.1.10 crore to Rs.6.10 crores including a corpus fund of rupees five crores;

Now, therefore, the Central Government, in exercise of the powers conferred by sub­section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961),-

  1. hereby specifies the scheme or project for construction of school/vocational training center Building for Autistic and Multiple Handicapped Children, which is being carried out by Action for Autism, T 370 F, Chirag Dilli Gaon, New Delhi-110017 as an eligible project or scheme for a further period of three years commencing from the financial year 2005-2006; and

  2. further amends the said notification number S.O.232(E) dated the 24th February, 2004, to the following effect, namely :-

In the said notification, in the Table against serial number 7, in column (4), relating to maximum amount of cost to be allowed as deduction under section 35AC for the letters, figures and word “Rs.1.10 crores,” the letters figures and words “Rs.6.10 crores including a corpus fund of Rs. 5.00 crores” shall be substituted.

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Category : Income Tax (25517)
Type : Notifications (15398) Notifications/Circulars (30679)

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