U/s. 35AC, IT ACT, 1961 - Eligible Projects or Schemes, Expenditure On - BEE ENN Charitable Trust, Jammu, J&K - S.O. 1238(E) - Income Tax

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION No. 11/2016 New Delhi, the 29th March, 2016 S.O. 1238(E).- Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O.839(E) dated the 22nd November, 1994 , 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 8, for Construction of building of 80 beded General Hospital in an area of 16,449 Sq. ft. with equipment and furniture at Talab Tillo Road, Jammu by BEE ENN Charitable Trust, Talab Tillo Road, Jammu-180002, as an eligible project or scheme for a period of three years beginning with assessment year 1995-1996 which was extended further vide notification number S.O.214(E) dated the 17th March, 1997 for a period of three years beginning with assessment year 1998-1999 which was extended further vide notification number S.O.1029(E) dated the 17th November, 2000 for a period of three years beginning with assessment year 2001-2002; which was extended further vide notification number S.O.1244(E) dated the 30 th October, 2003 for a period of three year beginning with assessment year 2004-2005, which was extended further vide notification number S.O.486(E) dated 29th March, 2007 for a period of three year beginning with financial year 2008-09 and which was extended further vide notification number S.O.3064 (E) dated 30th December, 2010 for a period of three year beginning with financial year 2009-10 and which was extended further vide notification number S.O. 661 (E) dated 12 th March, 2013 for a period of three year beginning with financial year 2012-13; And whereas the said project or scheme is likely to extend beyond twenty one 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 specifying the said project or scheme for a further period of three years However, the exemption u/s 35AC will not apply to the funds received under Schedule VII of the Section 135 of the Companies Act and Companies (CSR) Rules 2014 ; 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 for Construction of building of 80 beded General Hospital in an area of 16,449 Sq. ft. with equipment and furniture at Talab Tillo Road, Jammu, which is being carried out by BEE ENN Charitable Trust, Talab Tillo Road, Jammu-180002, without any change in the approved cost of ₹ 238.88 lakh, as an eligible project or scheme for a further period of three years commencing with the financial year 2015-16 i.e. 2015-16, 2016-17 and 2017-18. (b) The exemption u/s 35AC will not apply to the funds received under Schedule VII of the Section 135 of the Companies Act and Companies (CSR) Rules 2014. [F.No.V. 27015/1/2016-SO (NAT.COM)] MAKKHAN LAL MEENA, Dy. Secy. (National Committee)