U/s. 35AC, IT ACT, 1961 - Eligible Projects or Schemes, Expenditure On - Iskcon Food Relief Foundation, Juhu, Mumbai - S.O.1540 (E) - Income Tax

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION No. 57/2016 New Delhi, the 26th April, 2016 S.O.1540 (E). - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 1462(E) dated 17th June, 2008 , 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 10, Mid day meal project for Uttar Pradesh by Iskcon Food Relief Foundation, Hare Krishna Land, Juhu, Mumbai 400 049 , as an eligible project or scheme for a period of two years beginning with financial year 2008-09; and which was further extended vide notification number S.O. 1787(E) dated 21.07.2010 for a period of three years ending with financial year 2012-13 and which was further extended vide notification number S.O. 3868(E) dated 27.12.2013 for a period of three years ending with financial year 2015-16; And whereas the said project or scheme is likely to extend beyond eight 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 Mid day meal project for Uttar Pradesh , is being carried out by Iskcon Food Relief Foundation, Hare Krishna Land, Juhu, Mumbai 400 049 , without any change in the approved cost of ₹ 712.65 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)