U/s. 35AC, IT ACT, 1961 - Eligible Projects Or Schemes, Expenditure On – Nishkam Sikh Welfare Council New Delhi - 186/2015 - Income Tax

NOTIFICATION No. 186/2015 New Delhi, the 20th July, 2015 S.O. 1973(E).- Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O.844(E) dated the 17th October, 1995 , 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 14, Running expenses for Mata Gujari Old Age Home-cum-Orphanage at Village Khanpur, District Ropar, Punjab by Nishkam Sikh Welfare Council, BF-33, Tagore Garden, New Delhi-110027 , as an eligible project or scheme for a period of two years beginning with assessment year 1996-1997, which was extended further vide notification number S.O.259(E) dated the 27th March,1997 , for a period of three year beginning with assessment year 1998-1999, which was extended further vide notification number S.O.924(E) dated the 20th September,2001 , for a period of three year beginning with assessment year 2001-2002, which was extended further vide notification number S.O.724(E) dated the 23rd June, 2004 for a period of three year beginning with financial year 2003-2004, which was extended further vide notification number S.O.480(E) dated the 29th March, 2007 for a period of three year beginning with financial year 2006-2007, which was extended further vide notification number S.O. 2054(E) dated 6 th September, 2009 for a period of three year beginning with financial year 2009-10 and which was extended further vide notification number S.O. 666(E) dated 12th March, 2013 for a period of three year beginning with financial year 2012-13; And whereas by notification number S.O.924(E) dated the 20th September,2001 the estimated cost was enhanced from ₹ 27.36 lakh to ₹ 99.00 lakh and vide notification number S.O.724(E) dated the 23rd June, 2004 the estimated cost was enhanced from ₹ 99.00 lakh to ₹ 159.00 lakh; And whereas the said project or scheme is likely to extend beyond twenty one years; And whereas the project cost is likely to enhance from ₹ 159 lakh to ₹ 350 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 specifying the said project or scheme for a further period of three years and amending the project cost from ₹ 159 lakh to ₹ 350 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 Running expenses for Mata Gujari Old Age Home-cum-Orphanage at Village Khanpur, District Ropar, Punjab , which is being carried out by Nishkam Sikh Welfare Council, BF-33, Tagore Garden, New Delhi-110027 , for a period of three years commencing with the financial year 2015-16 i.e. 2015-16, 2016-17 and 2017-18; (b) further amends the said notification number S.O.844(E) dated the 17th October, 1995, to the following effect, namely:- In the said notification, in the Table against serial number 14, 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. 159.00 lakh the letters, figures and word Rs.350.00 lakh shall be substituted. [F. No. V.27015/2/2015-SO (NAT.COM)] MAKKHAN LAL MEENA, Dy. Secy. (National Committee)