Sponsored
    Follow Us:
Sponsored

Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes

NOTIFICATION NO. 12/2009 [F.NO. V-27015/5/2009 – SO (NAT.COM)]/ S.O. 645(E), DATED 22-3-2010

WHEREAS by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 901(E), dated the 20th September, 2001, 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 8, “Construction of dormitory-cum-library and running of rehabilitation welfare programmes for disabled/blind persons at Bangalore, Karnataka and its surrounding places” by Shri Ramana Maharishi Academy of the Blind, CA-1B, 3rd Cross, 3rd Phase, J.P. Nagar, Bangalore-560 078, as an eligible project or scheme for a period of three years beginning with assessment year 2002-03, which was extended further vide notification number S.O. 716(E), dated the 25th May, 2005 for a period of three years beginning with financial year 2004-05 and which was extended further vide notification number S.O. 1296(E), dated 4-6-2008 for three years beginning with financial year 2007-08;

AND WHEREAS the said project or scheme is likely to extend beyond nine 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 “Construction of dormitory-cum-library and running of rehabilitation/welfare programmes for disabled/blind persons at Bangalore, Karnataka and its surrounding places” being carried out by Shri Ramana Maharishi Academy of the Blind, CA-1B, 3rd Cross, 3rd Phase, J.P. Nagar, Bangalore-560 078, without any change in the approved cost of Rs. 197 lakh, as an eligible project or scheme for a further period of three years beginning with financial year 2010-11, i.e., 2010-11, 2011-12 and 2012-13.

Sponsored

Join Taxguru’s Network for Latest updates on Income Tax, GST, Company Law, Corporate Laws and other related subjects.

Leave a Comment

Your email address will not be published. Required fields are marked *

Sponsored
Sponsored
Search Post by Date
July 2024
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
293031