U/s. 35AC, IT ACT, 1961 - Eligible Projects Or Schemes, Expenditure On – Urivi Vikram Charitable Trust , New Delhi - 36/2015 - Income Tax

NOTIFICATION NO. 36/2015 DATED 6-1-2015 S.O. 87(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.135(E) dated the 3rd February, 2006 , 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 9, National Centre for Adolescents by Urivi Vikram Charitable Trust, MCD Shopping Complex, 1st Floor (Near Central School), Tagore Garden Extension, P.O. Box No.6557, New Delhi - 110027 , as an eligible project or scheme, at the estimated cost of ₹ 2.00 crore for a period of three years beginning with financial year 2005-2006; which was extended further vide notification number S.O. 1311(E) dated 4th June, 2008 for a period of three years beginning with financial year 2008-09 and which was further extended vide notification number 1372(E) dated 16.6.2011 for a period of three years ending with financial year 2013-14; And whereas the said project or scheme is likely to extend beyond nine years; And whereas the project cost is likely to enhance from ₹ 2.00 crore to 'Rs. 3.00 crore; And, whereas, the National Committee for the 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 rile 11M of the Income-tax Rules, 1962 for extending the said project or scheme for a further period of three years and also enhancing the project cost from (Rs. 2.00 crore to ₹ 3,00 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 (a) notifies the scheme or project National Centre for Adolescents being carried out by Urivi Vikram Charitable Trust, MCD Shopping Complex, 1st Floor (Near Central School), Tagore Garden Extension, P.O. Box No.6557, New Delhi - 110027 , as an eligible project or scheme for a further period of three years commencing with financial year 2014-15.. i.e., 2014-15, 2015-16 and 2016-17; and (b) further amends the said notification number S.O. 135(E) dated the 3rd February, 2006 to the following effect namely:- In the said notification, in the Table against serial number 7, in column (4) relating to maximum amount of cost to be allowed as deduction under Section 35 AC , for the letters figures and word Rs. 2.00 crore, the letters figures and word ₹ 3.00 crore' shall be substituted. [F.NO.V.27015/3/2014-SO(NAT.COM)]