Exemption u/s 35AC - Central Government had specified for construction of fully equipped hospital named as Ramco Apollo diagnostic Centre, Tamil Nadu as an eligible project or scheme - S. O. 433(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for construction of fully equipped hospital named as Ramco Apollo diagnostic Centre, Tamil Nadu as an eligible project or scheme NOTIFICATION NO. S. O. 433 ( E ) DATED 20-5-1998 Whereas by Notification Number S. O. 267(E), dated 29th March, 1994, 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 14, construction of fully equipped hospital named as Ramco Apollo diagnostic Centre, Rajapalayam-626 117, kamarajar District, Tamil Nadu, provided that ( a )( i ) 40 per cent. of common clinical test are provided free and 25 per cent. at concessional rate; ( ii ) 25 per cent. X-Rays and ECG tests are provided free and 25 per cent. at concessional rate; and ( iii ) 25 per cent. other routine tests free and 25 per cent. at concessional rate; ( b )( i ) Free treatment is given to those patients whose family income does not exceed Rs. 10,000; ( ii ) 25 per cent. to 35 per cent. to patients with annual family income between Rs. 10,000 to Rs. 15,000 of P.A.C. Ramasamy Raja Centenary Trust, "Ramamandiram" Tenkasi Road, Rajapalayam, Tamil Nadu, as an eligible project or scheme for a period of two years beginning with the assessment year 1994-95 which was further extended for a period of two years, i.e., assessment years 1996-97 and 1997-98, vide S. O. No. 180(E), dated 9th March, 1995; And whereas the said project or scheme is likely to extend beyond four years; And whereas the National Committee, 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; 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 specifies the scheme or project of construction of fully equipped hospital named as Ramco Apollo diagnostic Centre, Rajapalayam-626 117, kamarajar District, Tamil Nadu, provided that ( a )( i ) 40 per cent. of common clinical test are provided free and 25 per cent. at concessional rate; ( ii ) 25 per cent. X-Rays and ECG tests are provided free and 25 per cent. at concessional rate; and ( iii ) 25 per cent. other routine tests free and 25 per cent. at concessional rate; ( b )( i ) Free treatment is given to those patients whose family income does not exceed Rs. 10,000; ( ii ) 25 per cent. to 35 per cent. to patients with annual family income between Rs. 10,000 to Rs. 15,000 of P.A.C. Ramasamy Raja Centenary Trust, "Ramamandiram" Tenkasi Road, Rajapalayam, Tamil Nadu at the estimated cost of rupees three hundred eighty-six lakhs only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1998-99. [No. 10609/F. No. NC-29/98]