SECTION 35AC, READ WITH EXPLANATION (b) THERETO, OF THE INCOME-TAX ACT, 1961 – ELIGIBLE PROJECTS OR SCHEMES, EXPENDITURE ON – NOTIFIED ELIGIBLE PROJECTS OR SCHEMES

NOTIFICATION NO. S.O. 2891(E) [NO. 130/2011 (F.NO.V-27015/5/2011-SO (NAT.COM))], DATED 27-12-2011

Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.0.121(E), dated the 12th January, 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, “Natural Resource Management-Model Watershed Management & Afforestation programme and allied agricultural support for rural development” by Krishi Gram Vikas Kendra, Rukka- Neori Vikas, Area Ormanjhi, Post Office Neori Vikas, District Ranchi, Jharkhand- 835 217, as an eligible project or scheme for a period of three years beginning with financial year 2008-09;

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 Explanationto section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby notifies the scheme or project “Natural Resource Management-Model Watershed Management & Afforestation programme and allied agricultural support for rural development” which is being carried out by Krishi Gram Vikas Kendra, Rukka-Neori Vikas, Area Ormanjhi, Post Office Neori Vikas, District Ranchi, Jharkhand- 835 217, without any change in the approved cost of Rs. 7.87 crore, as an eligible project or scheme for a further period of three years commencing with the financial year 2011-12 i.e., 2011-12, 2012-13 & 2013-14.