SECTION 35AC, READ WITH EXPLANATION (b) THERETO, OF THE INCOME-TAX ACT, 1961 – ELIGIBLE PROJECTS OR SCHEMES, EXPENDITURE ON – NOTIFIED ELIGIBLE PROJECTS OR SCHEMES – MARIA SEVA SANGHA, BANGALORE -AMENDMENT IN NOTIFICATION NO.S.O.469(E) DATED 2-7-1996

NOTIFICATION NO.90/2011[F.NO.V-27015/3/2011-SO(NAT.COM]/S.O.1869(E), DATED 11-8-2011

Whereas by Notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O.469(E), dated the 2nd July, 1996, 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 4, “Mid-day Meal Scheme in eighteen schools of Bangalore” by Maria Seva Sangha, Villa Maria, No. 12, Rest House Road, Bangalore – 560001, as an eligible project or scheme for a period of three years beginning with assessment year 1997-1998, which was extended further vide Notification number S.O. 317(E), dated the 11th May, 1999 for a period of two years beginning with assessment year 2000-2001, which was extended further vide Notification number S.O. 552(E), dated the 20 June, 2001 for a period of two years beginning with assessment year 2002-2003, which was extended further vide Notification number S.O. 688(E), dated the 13th June, 2003 for a period of one year beginning with assessment year 2004-2005, which was extended further vide Notification number S.O. 398(E), dated the 23rd March, 2005 for a period of two years beginning with financial year 2004-2005, which was extended further vide Notification number S.O. 1407(E), dated the 4th September, 2006 for a period of three years beginning with financial year 2006-2007 and which was extended further vide Notification number S.O. 836(E), dated the 25th March, 2009 for a period of three years beginning with financial year 2009-10;

And whereas by Notification number S.O. 260(E), dated the 27th March, 1997 the estimated cost was enhanced from Rs. 2.30 lakh to Rs. 15.00 lakh, vide Notification number S.O. 1371(E), dated the 27th November, 2003 the estimated cost was further enhanced from Rs.15.00 lakh to Rs.30.00 lakh and vide Notification number S.O. 1407(E), dated the 4th September, 2006 the estimated cost was further enhanced from Rs. 30 lakh to Rs. 50 lakh;

And whereas the said project or scheme is likely to extend beyond sixteen 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 enhancing the project cost from Rs. 50 lakh to 75 lakh (increasing the benefits of mid day meal from 2842 poor children to 3200 in 18 schools of Karnataka).

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), (a) hereby notifies the scheme or project “Mid-day Meal Scheme in three schools of Bangalore” which is being carried out by Maria Seva Sangha, Villa Maria, No. 12, Rest House Road, Bangalore – 560001.

(b) further amends the said Notification number S.O. 469(E), dated the 2nd July, 1996, to the following effect, namely :—

In the said Notification, in the Table against serial number 4, in column (4), relating to maximum amount of cost to be allowed as deduction under section 35AC, for the letters, figures and word “Rs. 50 lakh”, the letters, figures and word “Rs. 75 lakh” shall be substituted.

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Category : Income Tax (25041)
Type : Notifications (15213) Notifications/Circulars (30079)

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