U/s. 35AC, IT ACT, 1961 - Eligible Projects or Schemes, Expenditure On - Medical Research Foundation, Chennai - S.O. 3456(E) - Income Tax

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION No. 282/2015 New Delhi, the 17 th December, 2015 S.O. 3456(E) .-Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 19(E) dated the 7 th January, 2004 , 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 notified at serial number 11, Free Eye surgeries and running of hospital by Medical Research Foundation, 18, College Road, Chennai 600006 , as an eligible project or scheme for a period of three years beginning with assessment year 2004-2005, which was extended further vide notification number S.O. 1408(E) dated the 4th September, 2006 for a period of three years beginning with financial year 2006- 2007, which was extended further vide notification number S.O. 847(E) dated 25th March, 2009 for a period of three years beginning with financial year 2009-10 and which was extended further vide notification number S.O. 2892(E) dated 27th December, 2011 for a period of three years beginning with financial year 2012-13 and which was extended further vide notification number S.O. 1966(E) dated 20th July, 2015 for a period of three years beginning with financial year 2015-16; And whereas by notification number S.O. 2892(E) dated 27th December, 2011 the estimated cost was enhanced from ₹ 32.70 crore including a corpus fund of ₹ 28 crore to ₹ 68.07 crore including a corpus fund of ₹ 52 crore; And whereas the corpus fund is likely to enhance from ₹ 68.07 crore including a corpus fund of ₹ 52.00 crore to ₹ 108.07 crore including a corpus fund of ₹ 52.00 crore; 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 enhancing the corpus fund from ₹ 68.07 crore including a corpus fund of ₹ 52.00 crore to ₹ 108.07 crore including a corpus fund of ₹ 52.00 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 notifies the scheme or project Free Eye surgeries and running of hospital which is being carried out by Medical Research Foundation, 18, College Road, Chennai 600006 , further amends the said notification number S.O. 19(E) dated the 7th January, 2004 , to the following effect, namely:- In the said notification, in the Table against serial number 11, in column (4), relating to maximum amount of cost to be allowed as deduction under section of 35AC of Income Tax Act, 1961 for the letters, figures and word from ₹ 68.07 crore including a corpus fund of ₹ 52.00 crore the letters, figures and word Rs. 108.07 crore including a corpus fund of ₹ 52.00 crore shall be substituted. [F. No. V. 27015/4/2015-SO (NAT.COM)] MAKKHAN LAL MEENA, Dy. Secy. (National Committee)