Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Udavum Karangal, Chennai
Notification No.10/2012[F.No.V-27015/1/2012-SO (NAT.COM)]/S.O. 465(E), dated 16-3-2012
Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O.1052(E), dated the 11th May, 2010, issued under 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 had notified at serial number 11, “Rehabilitation of orphans and destitute” by Udavum Karangal, No.460, N.S.K. Nagar, Arumbakkam, Chennai – 600 106, Tamilnadu, as an eligible project or scheme for a period of two years beginning with financial year 2010-11;
And whereas the said project or scheme is likely to extend beyond two 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 extending 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 “Rehabilitation of orphans and destitute” which is being carried out by Udavum Karangal, No.460, N.S.K. Nagar, Arumbakkam, Chennai – 600106, Tamilnadu, without any change in the approved cost of Rs. 1197 lakh including Educational corpus fund Rs. 100 lakh, as an eligible project or scheme for a further period of three years commencing with the financial year 2012-13 i.e. 2012-13, 2013-14 and 2014-15.
