U/s. 35AC, IT ACT, 1961 - Eligible Projects or Schemes, Expenditure On - Development Initiative for Self-Help and Awakening (DISHA) Pune - S.O.1519 (E) - Income Tax

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION No. 36/2016 New Delhi, the 26th April, 2016 S.O.1519 (E).- Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 466(E) dated 29th March, 2007 , issued under 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 18, Poverty alleviation through capacity building, market support and micro-credit programme for economically weaker section of the society by Development Initiative for Self-Help and Awakening (DISHA) C/o. Samaj Seva Kendra, Sr. No. 4272, Behind Akurdi Post Office, Akurdi, Pune-411035 , as an eligible project or scheme for a period of three years beginning with financial year 2007-08; which was further extended vide notification S.O. No.2523(E) dated 11.10.2010 for a period of three years ending with financial year 2012-13and which was extended further vide notification number S.O. 3844(E) dated 27th December, 2013 for a period of three year ending with financial year 2015-16; And whereas the said project or scheme is likely to extend beyond nine 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 year. 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 specifies the scheme or project Poverty alleviation through capacity building, market support and micro-credit programme for economically weaker section of the society , is being carried out by Development Initiative for Self-Help and Awakening (DISHA).C/o. Samaj Seva Kendra, Sr. No. 4272, Behind Akurdi Post Office, Akurdi, Pune-411035, without any change in the approved cost of ₹ 163.06 lakh, as an eligible project or scheme for a further period of three financial years commencing with the 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)