U/s. 35AC, IT ACT, 1961 - Eligible Projects Or Schemes, Expenditure On –Mahavir Heart Research Foundation, Mumbai - 89/2013 - Income Tax

NOTIFICATION NO. 89/2013 DATED 27-12-2013 S.O. 3840(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.469(E), dated the 2nd July, 1996 , 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 8, (a) Detection, Prevention Reaseach and Education; (b) Diagnosis, curing and operation to Heart patients; (c) Maintaining of Atithi Griha by Mahavir Heart Research Foundation, Avanti Apartments, Behind Gandhi Market, Sion (East), Mumbai-400 020, as an eligible project or scheme for a period of three years beginning with assessment year 1997-98, which was extended further vide notification number S.O.18(E) dated the 4th January, 2000 for a period of three years beginning with assessment year 2000-2001, which was extended further vide notification number S.O.686(E), dated the 13th June, 2003 for a period of three years beginning with assessment year 2003-04, which was extended further vide notification number S.O.152(E) dated the 3rd February, 2006 for a period of three years beginning with financial year 2005-06 and which was extended further vide notification number S.O. 231(E), dated 21st January, 2009 for a period of three years beginning with financial year 2008-09; which was extended further vide notification number 1076(E) dated 14.05.2012 for a period of three years ending with financial year 2013-14. 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 enhancement in the estimated cost; 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 (a) Detection, Prevention Research and Education; (b) Diagnosis, curing and operation to Heart patients; (c) Maintaining of Atithi Griha being carried out by Mahavir Heart Research Foundation, Avanti Apartments, Behind Gandhi Market, Sion (East), Mumbai-400 020, as an eligible project or scheme for a further period of three years beginning with financial year 2014-15 i.e. 2014-15, 2015-16 and 2016-17 (b) further amends the said notification number S.O.469(E), dated the 2 nd July, 1996 , 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 , for the letters, figures and words Rs. 315.85 lakh , the letters, figures and words Rs. 442.19 lakh shall be substituted. [F.NO.27015/3/2013-SO (NAT.COM)]