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Section 6 - Amendment of section 35AD. - FINANCE ACT, 2011Extract Amendment of section 35AD. 6. In section 35AD of the Income-tax Act, (a) in sub-section (5), with effect from the 1st day of April, 2012, (i) in clause (ac), the word and occurring at the end shall be omitted; (ii) after clause (ac), the following clauses shall be inserted, namely: (ad) on or after the 1st day of April, 2011, where the specified business is in the nature of developing and building a housing project under a scheme for affordable housing framed by the Central Government or a State Government, as the case may be, and notified by the Board in this behalf in accordance with the guidelines as may be prescribed; (ae) on or after the 1st day of April, 2011, in a new plant or in a newly installed capacity in an existing plant for production of fertilizer; and ; (iii) in clause (b), for the words, brackets and letters and clause (ac) , the words, brackets and letters clause (ac), clause (ad) and clause (ae) shall be substituted; (b) in sub-section (8), in clause (c), (i) in sub-clause (iv), for the words new hotel , the word hotel shall be substituted; (ii) in sub-clause (v), for the words new hospital , the word hospital shall be substituted; (iii) after sub-clause (vi), the following sub-clauses shall be inserted with effect from the 1st day of April, 2012, namely: (vii) developing and building a housing project under a scheme for affordable housing framed by the Central Government or a State Government, as the case may be, and notified by the Board in this behalf in accordance with the guidelines as may be prescribed; (viii) production of fertilizer in India; .
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