SECTION 35AC, READ WITH EXPLANATION (b) THERETO, OF THE INCOME-TAX ACT, 1961 – ELIGIBLE PROJECTS OR SCHEMES, EXPENDITURE ON – NOTIFIED ELIGIBLE PROJECTS OR SCHEMES – SMT. SAVITABEN RAMANLAL DAHYALAL SHAH, GUJARAT

NOTIFICATION NO. 47/2014 [F.NO.V.27015/1/2014-SO(NAT.COM)]/SO 1970(E), DATED 31-7-2014

Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 1084(E) dated, 11.10.2002 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 3, “Running of Smt. Savitaben Ramanlal Dahyalal Shah Sarvajanik Hospital, Ambasan, District Mehsana, Gujarat” by “Smt. Savitaben Ramanlal Dahyalal Shah, Sarvajanik Hospital & Prashutigruh Trust, AT & PO Ambasan, Tal. & District Mehsana–384435, Gujarat.”, as an eligible project or scheme, at the estimated cost of Rs. 63.75 lakhs including a corpus fund of Rs. 28.00 lakhs, for a period of three years ending with financial year 2005-06, which was further extended vide Notification number S.O. No. 1010(E), dated 05.07.2006 for a further period of two years ending with financial year 2007-08, which was further extended vide S.O.1472(E), dated 17.06.2008 for a period of three years ending with financial year 2010-11, and which was further extended vide Notification number 869(E), dated 27.4.2011 for a further period of three years ending with financial year 2013-14;

And whereas vide notification number S.O. 1147(E), dated 17.5.2010, the project cost was enhanced from Rs. 63.75 lakh including a corpus fund of Rs. 28.00 lakh to Rs. 113.75 lakh including a corpus fund of Rs. 28 lakh, by amending notification number S.O.1084(E), dated 11.10.2002;

And whereas the said project or scheme is likely to extend beyond 11 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 “Running of Smt. Savitaben Ramanlal Dahyalal Shah Sarvajanik Hospital, Ambasan, District Mehsana, Gujarat”, which is being carried out by “Smt. Savitaben Ramanlal Dahyalal Shah, Sarvajanik Hospital & Prashutigruh Trust, AT & PO Ambasan, Tal. & District Mehsana–384435, Gujarat”, without any change in the approved cost of Rs. 113.75 lakh including a corpus fund of Rs. 28 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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Category : Income Tax (27485)
Type : Notifications (15811) Notifications/Circulars (31847)

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