Notification No : 58
Section(s) Referred : section 35AC (1) (b)
Date of Issue : 23/2/2004
Notification No. 58 of 2004, dt. 23rd Feb., 2004
Whereas by notification of the Government of India in the Ministry of Finance [Department of Revenue) number S.O. 388(E) dated the 19th May, 1997, issued under clause (b) of the Explanation to Section 35AC of the Income-tax Act, 1961 (43 of 1961). the Central Government had specified at serial number 5, for Upliftment of the poor and the needy people by giving financial aid for the major surgical operations all over India , by Mahavir Jeevan Raksha Foundation, Dalchand Niwas, Sir Bhalchandra Road . Matunga. Mumbai-400019, as an eligible project or scheme for a period of three years beginning with assessment year 1998-99 and which was extended further vide notification number S.O. 498(E), dated the 26th May, 2000 as an eligible project or scheme for a period of three years beginning with assessment year 2001-2002;
And whereas the said project or scheme is likely to extend beyond six 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 11 M of the Income-tax Rules, 1962 for specifying the said project or scheme for a further period of three years and the committee also asked to incorporate the word “corpus fund” in the project which was inadvertently left out while notifying the project;
Now, therefore, the Central Government, in exercise of the powers conferred by Sub-section 11) read with clause (b) of the Explanation to Section 35AC of the Income-tax Act, 1961 (43 of 1961) hereby specifies the scheme or project of Upliftment of the poor and the needy people by giving financial aid for the major surgical operations all over India, which is being carried out by Mahavir Jeevan Raksha Foundation, Dalchand Niwas. Sir Bhalchandra Road , Matunga, Mumbai-400019 at the estimated cost of rupees one crore (corpus fund) only. as an eligible project or scheme for a further period of three years commencing from the assessment year 2004-2005.
