SECTION 35AC, READ WITH EXPLANATION (b) THERETO, OF THE INCOME-TAX ACT, 1961 – ELIGIBLE PROJECTS OR SCHEMES, EXPENDITURE ON – NOTIFIED ELIGIBLE PROJECTS OR SCHEMES – RASHTRIYA SEVA SAMITHI, ANDHRA PRADESH

NOTIFICATION NO. 2/2014 [F.NO.27015/3/2013-SO(NAT.COM)]/SO 1873(E), DATED 21-7-2014

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), the Central Government, on the recommendations of the National Committee for Promotion of Social and Economic Welfare, hereby notifies the institutions approved by the said National Committee, mentioned in column (2) of the Table below, and approves the eligible projects or schemes specified to be carried on by the said institutions and the estimated cost thereof as mentioned in column (3) of the said Table, and also specifies in the column (4) of the Table the maximum amount of such cost which may be allowed as deduction under the said Section 35AC for the period of approval, namely:—

TABLE

Sl. No. Name of the Institution Project or scheme and estimated cost thereof Maximum amount of cost to be allowed as deduction under Section 35AC and period of approval
(1) (2) (3) (4)
1. Rashtriya Seva Samithi, Seva Nilayam, A.I.R. Bye Pass Road Tirupati, Andhra Pradesh – 517501 To Improve Health Status of the Scheduled Tribes and Primitive tribal group, physically and mentally challenged and economically weaker section children, ailing and lactating mothers, poor and needy living in the Chittoor District of Andhra Pradesh, Tirutani Block, Tamil Nadu, Nandapur Block, Odisha Rs. 5.00 crore for three financial years commencing with 2013-14, i.e., 2013-14, 2014-15, and 2015-16
{Rs. 5.00 crore}

II. This notification shall remain in force for a period of three years in relation to financial years 2013-14, 2014-15 & 2015-16 in respect of the projects or schemes mentioned at serial number 1 of the Table above. Since the financial year 2013-14 has already lapsed, no exemption shall be allowed for the year 2013-14 under Section 35AC of the IT Act, 1961.

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