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NC Notification No. 11/2012-Income Tax Dated 16/3/2012

NC Notification No. 11/2012-Income Tax Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 2370(E), dated 3rd October, 2008, 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 14, "Expansion and construction of the following projects

Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Shri Ganesh Shikshan Prasarak Mandal, Maharashtra

Notification No.11/2012[F.No.V-27015/1/2012-SO (NAT.COM)]/S.O. 466(E), dated 16-3-2012

Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 2370(E), dated 3rd October, 2008, 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 14, “Expansion and construction of the following projects:- Adoption centre (shishu graha), Destitute Home for Children (school and Hostel and VTC center), Remand Homes for Girls, The short stay Home, The Home for the Aged, De-Addiction-Cum-Rehabilitation Center, Swaadhar Center, Handicapped Rehabilitation Programme, Vocational Training center for rural and urban youth and 20 bedded hospital for rural and urban women and child” by Shri Ganesh Shikshan Prasarak Mandal, Priyadarshi Chowk, Khadgaon Road, Latur Tq & District Latur – 413531, Maharashtra, as an eligible project or scheme for a period of three years beginning with financial year 2008-09;

And whereas the said project or scheme is likely to extend beyond three 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 “Expansion and construction of the following projects:- Adoption centre (shishu graha), Destitute Home for Children (school and Hostel and VTC center), Remand Homes for Girls, The short stay Home, The Home for the Aged, De-Addiction-Cum-Rehabilitation Center, Swaadhar Center, Handicapped Rehabilitation Programme, Vocational Training center for rural and urban youth and 20 bedded hospital for rural and urban women and child” which is being carried out by Shri Ganesh Shikshan Prasarak Mandal, Priyadarshi Chowk, Khadgaon Road, Latur Tq & District Latur – 413531, Maharashtra, without any change in the approved cost of Rs. 9.92 crore, as an eligible project or scheme for a further period of three years commencing with the financial year 2011-12 i.e. 2011-12, 2012-13 and 2013-14.

Categories: Income Tax
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