NOTIFICATION NO. 91/2012 [F. NO. V.27015/3/2012-SO (NAT.COM)]/S.O. 2419(E), DATED 9-10-2012

SECTION 35AC, READ WITH EXPLANATION (B) THERETO OF THE INCOME-TAX ACT, 1961 – ELIGIBLE PROJECTS OR SCHEMES, EXPENDITURE ON – NOTIFIED ELIGIBLE PROJECTS OR SCHEMES – KURIAKOSE ELIAS TRUST FOR COMMUNICATION & DEVELOPMENT, KERALA

NOTIFICATION NO. 91/2012 [F. NO. V.27015/3/2012-SO (NAT.COM)]/S.O. 2419(E)DATED 9-10-2012

Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 2349 (E) dated 29th October, 2009, 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, “Expansion of the Chavara Cancer Hospital, Chavara Cancer Rehabilitation Centre and Chavara Cancer Research Institute” by Kuriakose Elias Trust for Communication and Development, Flat -1A, Faremount (SFS), Vazhuthakkad PO, Thiruvanathapuram, Kerala State -695018, as an eligible project or scheme for a period of three years beginning with financial year 2009-10;

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 and amending the project cost from Rs. 46.12 crore to Rs. 80 crore i.e. an additional amount of Rs. 33.88 crore;

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 of the Chavara Cancer Hospital, Chavara Cancer Rehabilitation Centre and Chavara Cancer Research Institute” which is being carried out by Kuriakose Elias Trust for Communication and Development, Flat -1A, Faremount (SFS), Vazhuthakkad PO.Thiruvanathapuram, Kerala State -695 018, as an eligible project or scheme for a further period of three years commencing with the financial year 2012-13 i.e. 2012-13, 2013-14 & 2014-15.

Further amends the said notification number S.O. 2349 (E) dated 29th October, 2009, 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 of the Income-tax Act, 1961 for the letters, figures and word “46.12 crore” the letters, figures and word “Rs. 80 crore” shall be substituted.

error: Content is protected !!