Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 – Eligible projects or schemes, expenditure on – Notified eligible projects or schemes – Hindvi Swarajya Pratistan, Maharashtra
Notification No. 122/2011 [F.No.V-27015/5/2011-SO (NAT.COM)]/S.O. 2883(E), dated 27-12-2011
Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 1501(E), dated the 7th September, 2007, 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 2, “Rural Drinking Water hand pump project” by Hindvi Swarajya Pratistan, Kile Rajgad, At/p. – Chirmodi, Tal Velhe, District Pune, State Maharashtra, as an eligible project or scheme for a period of three years beginning with financial year 2007-08;
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 “Rural Drinking Water hand pump project” which is being carried out by Hindvi Swarajya Pratistan, Kile Rajgad, At/p. -Chirmodi, Tal Velhe, District Pune, State Maharashtra, without any change in the approved cost of Rs. 1.40 crore, as an eligible project or scheme for a further period of three years commencing with the financial year 2010-11 i.e., 2010-11, 2011-12, 2012-13 with a direction that as the financial year 2010-11 has already lapsed, hence no certificate under section 35 AC of Income Tax Act, 1961 shall be issued for the financial year 2010-11.