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U/s. 35AC, IT ACT, 1961 - Eligible Projects Or Schemes, Expenditure On –H.M.S Education Society, Karnataka - 18/2015 - Income TaxExtract NOTIFICATION NO. 18/2015 DATED 6-1-2015 S.O. 69(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O 737(E) dated 13.3.2009 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 12, Expansion of existing 100 bedded multi-speciality hospital (purchase of equipment, recurring cost and corpus fund) by H.M.S Education Society, Shetty Halli Road, Tumkur 572 102, Karnataka , as an eligible project or scheme, at the estimated cost of ₹ 25.05 crore including a corpus fund of ₹ 9 crore, for a period of three years ending with financial year 2010-11; and which was further extended vide notification number S.O. 850(E) dated 27.4.2011 for a period of three years ending with financial year 2013-14. And whereas the said project or scheme is likely to extend beyond 6 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 specifying 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) , hereby notifies the scheme or project Expansion of existing 100 bedded multi-speciality -hospital (purchase of equipment, recurring cost andcorpus fund) , which is being carried out by H.M.S Education Society, Shetty Halli Road, Tumkur 572 102, Karnataka , without any change in the approved cost of ₹ 25,05 crore including corpus fund of Rs..9 crore, for a further period of three years commencing with financial year 2014-15, 2015-16 and 2016-17. [F.NO.V.27015/3/2014-SO(NAT.COM)]
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