SECTION 35AC, READ WITH EXPLANATION (b) THERETO, OF THE INCOME-TAX ACT, 1961 – ELIGIBLE PROJECTS OR SCHEMES, EXPENDITURE ON – NOTIFIED ELIGIBLE PROJECTS OR SCHEMES – SOSVA TRAINING AND PROMOTION INSTITUTE, PUNE

NOTIFICATION NO. 38/2014 [F.NO.V.27015/1/2014-SO(NAT.COM)]/SO 1961(E), DATED 31-7-2014

Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 708(E) dated 25.05.2005 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 15, “Project for capacity building of voluntary sector” by “SOSVA Training and Promotion Institute, MHADA Commerical Complex, 1st Floor, MHB Colony, Yerwada, Pune- 411006”, as an eligible project or scheme, at the estimated cost of Rs. 70 lakh, for a period of three years ending with financial year 2007-08, which was further extended vide Notification number S.O. 1465(E) dated 20.06.2008 for a further period of three financial years ending with financial year 2010-11, which was further extended vide notification number S.O. 1371(E) dated 14.6.2011 for a further period of three financial years ending with financial year 2013-14;

And whereas the said project or scheme is likely to extend beyond 9 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.

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 “Project for capacity building of voluntary sector”, which is being carried out by “SOSVA Training and Promotion Institute, MHADA Commerical Complex, 1st Floor, MHB Colony, Yerwada, Pune- 411006”, without any change in the approved cost of Rs. 70 lakh, for a further period of three years commencing with financial year 2014-15, i.e., 2014-15, 2015-16 and 2016-17.

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