Amendment in the notification number S.O. 458(E) dated the 30th March, 2006 - 142/2015-S.O. 1572 (E) - Income Tax

NOTIFICATION New Delhi, the 15th June, 2015 S.O. 1572 (E).- Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O.458(E) dated the 30th March, 2006, 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 2, Unnati, a vocational guidance centre for the underprivileged by Sree Guruvayurappan Bhajan Samaj Trust, No.1 Tank Road, Opposite Ulsoor Lake, Bangalore 560042 , as an eligible project or scheme for a period of three years beginning with financial year 2006-2007, which was extended further vide notification number S.O. 838(E) dated 25 th March, 2009 for a period of three years beginning with financial year 2009-10 and which was further extended vide No. S.O. 485(E) dated 16.3.2012 for a period of three financial years starting 2012-13; And whereas by notification number S.O. 485(E) dated 16.3.2012 the estimated cost was enhanced from ₹ 10.17 crore including a corpus fund of ₹ 7 crore to 22.71 crore including a corpus fund of ₹ 15 crore; And whereas the said project or scheme is likely to extend beyond nine years; And whereas the project cost is likely to enhance from ₹ 22.71 crore including a corpus fund of ₹ 15 crore to ₹ 23.85 crore including a corpus fund of ₹ 15 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 extending the said project or scheme for a further period of three years and amending the project cost from ₹ 22.71 crore including a corpus fund of ₹ 15 crore to ₹ 23.85 crore including a corpus fund of ₹ 15 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 Unnati, a vocational guidance centre for the underprivileged which is being carried out by Shree Guruvayurappan Bhajan Samaj Trust, No.1 Tank Road, Opposite Ulsoor Lake, Bangalore 560042 , as an eligible project or scheme for a further period of three years beginning with financial 2015-16, i.e. 2015-16, 2016-17 and 2017-18 and; (b) further amends the said notification number S.O. 458(E) dated the 30th March, 2006, to the following effect, namely :- In the said notification, in the Table against serial number 2, in column (4) relating to maximum amount of cost to be allowed as deduction under section 35 AC, for the letters, figures and word 22.71 crore including a corpus fund of ₹ 15 crore , the letters, figures and word ₹ 23.85 crore including a corpus fund of ₹ 15 crore shall be substituted. [No. 142/2015 / F. No. V. 27015/1/2015-SO (NAT.COM)] MAKKHAN LAL MEENA, Dy. Secy. (National Committee)