NOTIFICATION NO. SO 3050(E) [NO.240/2015 (F.NO.V.27015/3/2015-SO (NAT.COM))], DATED 10-11-2015

SECTION 35AC OF THE INCOME-TAX ACT, 1961 – ELIGIBLE PROJECTS OR SCHEMES, EXPENDITURE ON – NOTIFIED ELIGIBLE PROJECTS OR SCHEMES

NOTIFICATION NO. SO 3050(E) [NO.240/2015 (F.NO.V.27015/3/2015-SO (NAT.COM))]DATED 10-11-2015

Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 737(E) dated 13th March, 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 1, “Extension of running 25 bedded general hospital to 80 bedded capacity” by “Shri Jalaram Arogya Sewa Trust, AT & Post Meghraj, Block Mehgraj, District Sabarkantha, Gujarat – 383 3317”, as an eligible project or scheme for a period of three years beginning with financial year 2009-10 and which was extended further vide notification number S.O.638(E) dated the 12.03.2013 for a period of three years ending with financial year 2014-15;

And whereas by notification number S.O. 3070 (E) dated 30th December, 2010 the estimated cost was enhanced from Rs. 47.76 lakh to Rs. 2.94 crore.

And whereas the said project or scheme is likely to extend beyond six years;

And whereas the project cost is likely to enhance from Rs. 2.94 crore to Rs. 4.88 crore;

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 for enhance the project cost from Rs. 2.94 crore to Rs. 4.88 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), (a) hereby notifies the scheme or project “Extension of running 25 bedded general hospital to 80 bedded capacity” which is being carried out by “Shri Jalaram Arogya Sewa Trust, AT & Post Meghraj, Block Mehgraj, District Sabarkantha, Gujarat – 383 3317”, as an eligible project or scheme for a further period of three years commencing with financial year 2015-16 i.e 2015-16, 2016-17 & 2017-18 and;

(b) further amends the said notification number S.O. 737(E) dated 13.03.2009, to the following effect, namely :—

In the said notification, in the Table against serial number 1, in column (4), relating to maximum amount of cost to be allowed as deduction under section 35 AC, for the letters, figures and word “Rs. 2.94 crore”, the letters, figures and word “Rs. 4.88 crore” shall be substituted.