SECTION 35AC OF THE INCOME-TAX ACT, 1961 – ELIGIBLE PROJECTS OR SCHEMES, EXPENDITURE ON – NOTIFIED ELIGIBLE PROJECTS OR SCHEMES
NOTIFICATION No. S.O. 474(E) [NO.19/2012 (F.NO.V-27015/1/2012-SO (NAT.COM))], DATED 16-3-2012
Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.0.458(E) dated the 30th March, 2006, 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 16, “Hospital project” by Sevasangh Sarvajanik Hospital Trust, Modasa – 383315, District Sabarkantha, Gujarat, as an eligible project or scheme for a period of three years beginning with financial year 2006-07 and which was extended further vide notification number S.O. 2037(E) dated the 6th August, 2009 for 3 period of three years beginning with financial year 2009-10;
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 whereas the said project or scheme is likely to extend beyond six years;
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 “Hospital project” which is being carried out by Sevasangh Sarvajanik Hospital Trust, Modasa – 383315, District Sabarkantha, Gujarat, without any change in the approved cost of Rs. 2 crorc including corpus fund of Rs. 1 crore, 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.