Section 35AC, Read With Explanation (B) Thereto, Of The Income-Tax Act, 1961 – Eligible Projects Or Schemes, Expenditure On – Notified Eligible Projects Or Schemes – V.R. Deshpande Memorial Trust, Tamilnadu
Notification No.85/2011[F.No.V-27015/3/2011-So(Nat.Com]/S.O.1864(E), Dated 11-8-2011
Whereas by Notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 1250(E), dated 18th May, 2009, issued under 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 9, “Uttara Karnataka- Integrated Rural Development Project (UK-IRDP)” by Shri V.R. Deshpande Memorial Trust®, Udyog Vidyanagar, Haliyal 581329, Karnataka, Tamilnadu, as an eligible project or scheme for a period of two years beginning with financial year 2009-10:
And whereas the said project or scheme is likely to extend beyond two 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 year;
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 “Uttara Karnataka-Integrated Rural Development Project (UK-IRDP)”, which is being carried out by Shri V.R. Deshpande Memorial Trust®, Udyog Vidyanagar, Haliyal – 581 329, Karnataka, without any change in the approved cost of Rs. 4 crore, as an eligible project or scheme for a further period of three financial years commencing with the financial year 2011-12 i.e., 2011-12, 2012-13 & 2013-14.