Exemption u/s 35 AC - Central Government specified the construction of Anand Niketan Vridh Sewa Ashram to provide free accommodation to 159 old people above 60 years of age at NOIDA, by Jan Kalyan Trust, Ghaziabad as an eligible project or scheme - S.O.406(E) - Income Tax

Exemption u/s 35 AC - Central Government specified the construction of Anand Niketan Vridh Sewa Ashram to provide free accommodation to 159 old people above 60 years of age at NOIDA, by Jan Kalyan Trust, Ghaziabad as an eligible project or scheme NOTIFICATION NO. S.O.406 ( E ) DATED 6-6-1996 Whereas by notification, vide S. O. No. 228(E), dated 17th March, 1996, 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 the scheme at serial number 7, the construction of Anand Niketan Vridh Sewa Ashram to provide free accommodation to 159 old people above 60 years of age at NOIDA, Ghaziabad, by Jan Kalyan Trust, Ghaziabad, as an eligible project or scheme for a period of three years commencing from the assessment year 1996-95 ; And whereas the said project or scheme is likely to extend beyond three years ; And whereas the National Committee being satisfied that the said project or scheme is 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 ; Now, therefore, the Central Government in exercise of the powers conferred by sub-section (1) read with clause ( b ) of Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme of construction of Anand Niketan Vridh Sewa Ashram to provide free accommodation to 159 old people above 60 years of age at NOIDA, Ghaziabad, by Jan Kalyan Trust, Ghaziabad, at the estimated cost of rupees one crore eleven lakhs only as an eligible project or scheme for a further period of three assessment years, i.e., assessment years 1997-98, 1998-99 and 1999-2000. [No. 10110/F. No. NC-73/96]