SECTION 35AC, READ WITH EXPLANATION (b) THERETO, OF THE INCOME-TAX ACT, 1961 – ELIGIBLE PROJECTS OR SCHEMES, EXPENDITURE ON – NOTIFIED ELIGIBLE PROJECTS OR SCHEMES – IMPACT INDIA FOUNDATION, MUMBAI
NOTIFICATION NO.91/2011[F.NO.V-27015/3/2011-SO(NAT.COM]/S.O.1870(E), DATED 11-8-2011
Whereas by Notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O.1275(E), dated the 9th December, 2002, 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 1, “Disability Reduction Project” by Impact India Foundation, NHAVA House, 65, Maharshi Karve Road, Mumbai – 400002, as an eligible project or scheme for a period of three years beginning with assessment year 2003-2004, which was extended further vide Notification number S.O. 1007(E), dated the 5 July, 2006 for a period of two years beginning with financial year 2006-2007 and which was extended further vide Notification number S.O.2397(E), dated the 3rd October, 2008 for a period of three years beginning with financial year 2008-09;
And whereas the said project or scheme is likely to extend beyond eight 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 “Disability Reduction Project” being carried out by Impact India Foundation, NHAVA House, 65, Maharshi Karve Road, Mumbai – 400002, without any change in the approved cost of Rs. 590 lakh, as an eligible project or scheme for a further period of three years Commencing with financial year 2011-12 i.e., 2011-12, 2012-13 & 2013-14.
