Notification u/s 35AC - Notifies the scheme Cost of construction of school building primarily for providing free education belonging to the economically weaker sections of the society and also the cost of providing free education to the poor children with food, clothing, study material and health care - 50/2012 - Income Tax

Notification No. 50/2012 Dated : 14.05.2012 S.O. 1083 (E)- Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S. O. 1649(E), dated 12th July, 2010 , 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, Cost of construction of school building primarily for providing free education belonging to the economically weaker sections of the society and also the cost of providing free education to the poor children with food, clothing, study material and health care by Shirdi Sai Baba Temple Society, Sai Dham, Tigaon Road, Sector 86, Faridabad 121 002, as an eligible project or scheme for a period of three years beginning with the financial year 2009-10 ; And whereas the said projector scheme is likely to extend beyond three 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 ; 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 Cost of construction of school building primarily for providing free education belonging to the economically weaker sections of the society and also the cost of providing free education to the poor children with food, clothing, study material and health care which is being carried out by Shirdi Sai Baba Temple Society, Sai Dham, Tigaon Road, Sector 86, Faridabad 121 002, without any change in the approved cost of Rs. 6.50 crore, as an eligible project or scheme for a further period of three years with the financial year 2012-13, i.e., 2012-13, 2013-14 and 2014-15. [F.No.V. 27015/2/2012-SO (NAT. COM.)]