U/s. 35AC, IT ACT, 1961 - Eligible Projects Or Schemes, Expenditure On – Gujarat Sarvar Mandal, Ahmedabad - 91/2015 - Income Tax

NOTIFICATION NO. 91/2015 DATED 11-2-2015 S.O. 461(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.791(E) dated the 18th September, 1995 , 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 specified at serial number 1, for free medical aid to poor and destitute patients at Ahmedabad Gujarat by Gujarat' Sarvar Mandal, Room No.15, 1st Floor, Himavan, Samaj Kalyan Kendra, Shanti Kunj Society, Pritamari Marg, Near Paldi, Ahmedabad-6 , as an eligible project or scheme for a period of three years beginning with assessment year 1996-1997; which was extended further vide notification number S.O.686(E) dated the 11th August, 1998 for a period of three years beginning with assessment year 1999-2000; which was extended further vide notification number S.O. 561(E) dated the 20 th June, 2001 for a period of three years beginning with assessment year 2002-2003; which was extended further vide notification number S.O.796(E) dated the 5th July, 2004 for a period of three years beginning with financial year 2004-2005; which was extended further vide notification number S.O.1152(E) dated 16.7.2007 for a period of three years beginning with financial year 2007-08 and which was extended further vide notification number S.O. 1797(E) dated 21st July, 2010 for a period of three years beginning with financial year 2010-11; And whereas vide notification number S.O.630(E) dated the 5th July, 2000 the estimated cost was enhanced from ₹ 12.00 lakhs to ₹ 36.00 lakhs and vide notification number S.O. 796(E) dated the 5th July, 2004 the estimated cost was enhanced from ₹ 36.00 lakhs to ₹ 72.00 lakhs; And whereas the said project or scheme is likely to extend beyond 18 years; And whereas the project cost of ₹ 72 lakh is likely to be amended as ₹ 90 lakh and also corpus fund of ₹ 1 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 specifying the said project or scheme for a further period of three years and amending the project cost from ₹ 72 lakh to ₹ 90 lakh and also corpus fund of ₹ 1 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 for free medical aid to poor and destitute patients at Ahmedabad, Gujarat , which is being carried out by Gujarat Sarvar Mandal, Room No. 15, 1st Floor, Himavan, Samaj Kalyan Kendra, Shanti Kunj Society, Pritamari Marg, Near Paldi, Ahmedabad-6 , for a further period of three years beginning with financial years 2013-14 i.e. 2013-14, 2014-15 2015-16. Since the financial year 2013-14 has already lapsed it would be notified that no exemption shall be available for the said finance year 2013-14; and (b) further amends the said notification number S.O. 791(E) dated the 18th September, 1995 , 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 of 35AC of Income Tax Act, 1961 for the letters, figures and word Rs. 72 lakh the letters, figures and word Rs. 90 lakh and also corpus fund of ₹ 1 crore shall be substituted. [F.NO.V.27015/3/2014-SO(NAT.COM)]