MINISTRY OF FINANCE
(Department Of Revenue)
NOTIFICATION NO. 05/2017
New Delhi, the 21st March, 2017
S.O. 906(E).—In exercise of the powers conferred by sub-section (I) read with clause (b) of the Explanation to Section 35 AC of the Income Tax Act, 1961 (43 of 1961), the Central Government, on the recommendation 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 specified in the column (4) of the Table the maximum amount of such cost which may be allowed as deduction for the period of approval under the said Section 35 AC of the I.T. Act, 1961 namely:-
III. This notification shall remain in force for the period of and in relation to financial year in respect of the projects or schemes mentioned above against the respective institutions/projects.
IV. The exemption u/s 35 AC will not apply to the funds received under Schedule VII of the Section 135 of the Companies Act and Companies (CSR) Rules, 2014.
[F. No. 5/2017/ F. No. V.27015/1/2017-SO (NAT.COM)]
S. R. SHARMA,
Director (National Committee)