U/s. 35AC, IT ACT, 1961 - Eligible Projects Or Schemes, Expenditure On – Gujarat Cancer Society, Ahmedabad - 174/2015 - Income Tax

NOTIFICATION NO. 174/2015 DATED 20-7-2015 SO 1961(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.850(E) dated the 21st September, 2000 , 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 specified at serial number 1, Project for free treatment for cancer patients at New Civil Hospital Campus, Asarwa, Ahmedabad-380016, Gujarat by The Gujarat Cancer Society, New Civil Hospital Campus, Asarwa, Ahmedabad-380 016, Gujarat , as an eligible project or scheme for a period of three years beginning with assessment year 2001-2002, which was extended further vide notification number S.O.1249(E) dated the 30th October, 2003 for a period of three years beginning with assessment year 2004-2005; which was extended further vide notification number S.O.1840(E) dated the 26th October, 2006 for a period of three years beginning with financial year 2006-2007; which was extended further vide notification S.O.No. 2041(E) dated 6th August, 2009 for a period of three years beginning with the financial year 2009-10 and which was extended further vide notification S.O.No. 1095(E) dated 14th May, 2012 for a period of three years beginning with the financial year 2014-15; And whereas by notification number S.O.1146(E) dated the 16th July, 2007 the estimated cost was enhanced from ₹ 611.00 lakh to ₹ 860.00 lakh and vide notification S.O.No. 2041(E) dated 6th August, 2009 the estimated cost was further enhanced from ₹ 860.00 lakh to ₹ 1110 lakh. And whereas the said project or scheme is likely to extend beyond fifteen years; And whereas the project cost is likely to enhance from ₹ 1110 lakh to ₹ 1360 lakh; 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 amending the project cost from ₹ 1110 lakh to ₹ 1360 lakh; 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 Project for free treatment for cancer patients at New Civil Hospital Campus, Asarwa, Ahmedabad-380016, Gujarat , which is being carried out by The Gujarat Cancer Society, New Civil Hospital Campus, Asarwa, Ahmedabad-380 016 , as an eligible project or Scheme for a further period of three years beginning with the financial year 2015-16 i.e. 2015-16, 2016-17 and 2017-18; (b) further amends the said notification number S.O. 850(E) dated the 21st September, 2000 , to the following effect, namely:- In the said notification, in the Table against serial number 1, in column (4), relating to maximum to be allowed as deduction under section 35AC of Income Tax Act, 1961 , for the letters, figures and word Rs. 1110 lakh the letters, figures and word Rs. 1360 lakh shall be substituted. [F.NO.V.27015/2/2015-SO (NAT.COM)]