Notification u/s 35AC - Notifies the scheme Mobility Camp for the physically challenged - 65/2012 - Income Tax

Notification No. 65/2012 Dated : 14.05.2012 S.O. 1098 (E)- Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S. O. 2907(E), dated 17th November, 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 11, Mobility Camp for the physically challenged by Ratnanidhi Charitable Trust, Vasant Vilas, 5th Floor, 31, Dr. D. D. Sathye Marg, Girgaon, Mumbai 400 004, Gujarat, as an eligible project or scheme for a period of three years beginning with the 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 enhancing the project cost of ₹ 3.55 crore to ₹ 4.20 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 Mobility Camp for the physically challenged which is being carried out by Ratnanidhi Charitable Trust, Vasant Vilas, 5th Floor, 31, Dr. D. D. Sathye Marg, Girgaon, Mumbai 400 004, 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 and 2014-15. (b) further amends the said notification number S. O. 2907(E), dated 17th November, 2009 , to the following effect, namely : In the said notification, in the Table against serial number 8, 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 ₹ 3.55 crore the letters, figures and word ₹ 4.20 crore shall be substituted. [F. No. V. 27015/2/2012-SO (NAT.COM)]