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

NOTIFICATION NO. SO 3058(E) [NO.248/2015 {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. 1250 (E) dated 18.05.2009 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 5, “Providing Shelter and Mobile Health Services to the BPL and Tribal Families” by “Sahara Health & Education Society, 39 Defence Park, Maheshtala, Kolkata – 700141”, as an eligible project or scheme, at the estimated cost of Rs.8.45 crore for a period of three years ending with financial year 2011-12; and which was further extended vide notification number S.O. 2399(E) dated 9.10.2012 for a period of three financial years ending with financial year 2014-15 and which was extended further vide notification number S.O. 65(E) dated the 6.01.2015 for a period of two years beginning with financial year 2015-16;

And whereas vide notification number S.O. 2399(E) dated 9.10.2012, the project cost was enhanced from Rs.8.45 crore to Rs.11.75 crore;

And whereas the project cost is likely to enhance from Rs.11.75 crore to Rs.20.16 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 amending the project cost from Rs.11.75 crore to Rs.20.16 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 “Providing Shelter and Mobile Health Services to the BPL and Tribal Families”, which is being carried out by “Sahara Health & Education Society, 39 Defence Park, Maheshtala, Kolkata – 700141”, further amends the said notification number S.O. 1250 (E) dated 18.05.2009, to the following effect, namely :-

In the said notification, in the Table against serial number 5, 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. 11.75 crore”, the letters, figures and word “Rs. 20.16 crore” shall be substituted.