U/s. 35AC, IT ACT, 1961 - Eligible Projects or Schemes, Expenditure On - Shri Ramana Maharishi Academy of the Blind, J.P. Nagar, Bangalore - S.O.1514 (E) - Income Tax

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION No.31/2016 New Delhi, the 26th April, 2016 S.O.1514 (E).- Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O.901(E) dated the 20th September, 2001 , 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 8, Construction of dormitory-cum-library and running of rehabilitation/welfare programmes for disabled/blind persons at Bangalore, Karnataka and its surrounding places by Shri Ramana Maharishi Academy of the Blind, CA-1B, 3rd Cross, 3rd Phase, J.P. Nagar, Bangalore-560078 , as an eligible project or scheme for a period of three years beginning with Assessment year 2002-2003, which was extended further vide notification number S.O.716(E) dated the 25th May, 2005 for a period of three years beginning with financial year 2004-2005 and which was extended further vide notification number S.O. No. 1296 (E) dated 4.06.2008 for three years beginning with financial Year 2007-08 and which was extended further vide notification number S.O.1296(E) dated 22nd March, 2010 for a period of three year beginning with financial year 2010-11 and which was extended further vide notification number S.O.655(E) dated 12 th March, 2013 for a period of three year beginning with financial year 2015-16; And whereas the said project or scheme is likely to extend beyond fifteen 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. 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) , (a) hereby notifies the scheme or project Construction of dormitory-cum-library and running of rehabilitation/welfare programmes for disabled/blind persons at Bangalore, Karnataka and its surrounding places which is being carried out by Shri Ramana Maharishi Academy of the Blind, CA-1B, 3rd Cross, 3rd Phase, J.P. Nagar, Bangalore-560078 , without any change in the approved cost of ₹ 197.00 lakh, as an eligible project or scheme for a further period of three years commencing with financial year 2016-17 i.e. 2016-17, 2017-18 and 2018-19. (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)