U/s. 35AC, IT ACT, 1961 - Eligible Projects Or Schemes, Expenditure On –Sri Ramakrishna Sevashrama, Karnataka - 12/2015 - Income Tax

NOTIFICATION NO. 12/2015 DATED 6-1-2015 S.O. 63(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.713(E) dated 08.08.1995 issued under 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, Construction, establishment and running of 30 bed Swami Vivekananda Integrated Rural centre for elimination of leprosy and Tuberculosis by Sri Ramakrishna Sevashrama (Swami Vivekananda Integrated Rural Health Centre Shree Sharada Devi Eye Hospital), Swami Vivekananda Nagar, Pavagada-561202, Tumkur district, Karnataka. , as an eligible project or scheme, at the estimated cost of ₹ 1.15 crore for a period of three years ending with financial year 1998-99; which was further extended vide notification number S.O.99(E) dated 11.02.1999 for three years ending with financial year 2001-02; which was further extended vide notification number S.O.1217(E) dated 12.12.2001 for three years ending with financial year 2004-05; which was further extended vide notification number S.O. No. 386(E) dated 23.03.2005 for three years ending with financial year 2006-07; which was further extended vide notification number S.O.496(E) dated 20.03.2007 for three years ending with financial year 2009-10; which was further extended vide notification number S.O. 1791(E) dated 21.7.2010 for three years ending with financial year 2012-13; and which was further extended vide notification number S.O. 629(E) dated 12.3.2013 for a period 'of three years ending with financial year 2015-16; And whereas vide notification number S.O. 496(E) dated 20.03.2007, the project cost was enhanced from 'Rs. 142 lakh' to 'Rs. 292 lakh'; And whereas the project cost is likely to enhance from Rs.2.92 crore to ₹ 8.00 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- enhancing the project cost from Rs. 2.92 crore to ₹ 8.00 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), hereby amends the said notification number S.O.713(E) dated 08,08.1995 [read with notification number S.O. 496(E) dated 20.03.2007], 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 words Rs. 2.92 crore , the letters, figures and words Rs. 8.00 crore shall be substituted' [F.NO.V.27015/3/2014-SO(NAT.COM)]