Notification u/s 35AC - Notifies the scheme Administration and maintenance of 27 existing villages for providing free clothing, education and shelter and family environment to destitute, orphaned and abandoned children” New Delhi - 41/2012 - Income Tax

Notification No. 41/2012 Dated : 14.05.2012 S.O. 1074 (E)- Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) 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 notified at serial number 6, Administration and maintenance of 27 existing villages for providing free clothing, education and shelter and family environment to destitute, orphaned and abandoned children by SOS Children s Villages of India, A-7, Nizamuddin (West), New Delhi-110 013, as an eligible project or scheme for a period of three years beginning with the assessment year 1995-96, which was extended further vide notification number S.O. 390(E), dated 19th May, 1997 , for a period of three years beginning with the assessment year 1998-99, which was extended further vide notification number S. O. 852(E), dated 21st September, 2000, for a period of three years beginning with the assessment year 2001-02, which was extended further vide notification number S.O. 527(E), dated 9th May, 2003, for a period of three years beginning with the assessment year 2004-05, which was extended further vide notification number S. O. 1006(E), dated 5th July, 2006, for a period of three years beginning with the financial year 2006-07 and which was extended further vide notification number S.O. 833(E), dated 25th March, 2009 , for a period of three years beginning with the financial year 2009-10 ; And whereas by notification number S. O. 1604(E), dated 14th November, 2005 , estimated cost was enhanced from Rs. 3291 lakh to Rs. 4791.00 lakh, vide notification number S. O. 1165(E), dated 16th July, 2007, the estimated cost was further enhanced from Rs. 4791.00 lakh to Rs. 50.00 crore and vide notification number S. O. 1849(E), dated 25th July, 2008 , the estimated cost was further enhanced from Rs. 50.00 crore to Rs. 100.00 crore ; And whereas the said project or scheme is likely to extend beyond eighteen 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 from Rs. 100 crore to Rs. 150 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 Administration and maintenance of 27 existing villages for providing free clothing, education and shelter and family environment to destitute, orphaned and abandoned children being carried out by SOS Children s Villages of India, A-7, Nizamuddin (West), New Delhi-110 013, 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. 267(E), dated 29th March, 1994 , 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 Rs. 100 crore the letters, figures and word Rs. 150 crore shall be substituted. [F. No. V.27015/2/2012-SO (NAT.COM)]