Exemption u/s 35AC -Approves various institutions as an eligible Project or scheme - S. O. 97(E) - Income Tax

Exemption u/s 35AC -Approves various institutions as an eligible Project or scheme NOTIFICATION NO. S. O. 97 ( E ) DATED 11-2-1999 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), the Central Government on the recommendations of the National Committee, hereby approves the companies specified in column (2) of the Table below and specifies the eligible projects or schemes and the estimated cost thereof as mentioned in column (3) of the said Table and also specifies in the column (4) of the said Table, the maximum amount of such cost which may be allowed as a deduction under the said section 35AC. TABLE Sl No. Name of the institutions Project or scheme and estimated cost thereof Maximum amount of cost to be allowed as deduction under section 35AC (1) (2) (3) (4) 1. Bajaj Hindustan Limited, Bajaj Bhawan, 2nd Floor, Jamnalal Bajaj Marg, Nariman Point, Mumbai-400021. Rural development projects, viz., immunisation camp, cholera vaccination camp, installation of bio-gas plant and India Mark Pump Set, carpet weaving centre, repair and maintenance of Wind Mills and Pump Set, Tree Plantation, Rural Extension Services, Distribution of Solar Lantern, etc., at Golgokarannath and Palia Kalan, District Kheri of Uttar Pradesh ; likely to cost ₹ 25.46 lakhs. ₹ 13.65 lakhs. 2. Tata Sponge Iron Limited, P.O. Joda, Distt. Keonjhar, Orissa. 2 [ construction of school buildings purchase of library books, purchase of medicines. training on family planning, health and hygiene and encouragement of sports: at a cost of ₹ 30.00 lakhs ] 5 [ ₹ 3.16 crore ] 2. This notification shall remain in force for a period of three years in relation to the assessment years 1999-2000, 2000-2001 and 2001-2002. [No. 10787/F. No. NC-132/98] ********* Notes 1. Substituted vide NOTIFICATION S.O. 1270(E) dated 28-12-2001 before it was read as ₹ 10 lakhs. 2. Substituted vide NOTIFICATION NO. 406 dated 30-12-2002 before it was read as Digging of tube-wells for providing potable drinking water, repairing of schools, promotion/improvement of agricultural activities and providing medical facilities in various villages in Keonjhar District of Orissa ; likely to cost ₹ 10 lakhs 3. Substituted vide NOTIFICATION NO. 95/2005, DATED 23-3-2005 before it was read as 1 [ ₹ 30.00 lakhs ] 4. Substituted vide NOTIFICATION NO. 113/2007, DATED 29-3-2007 before it was read as 3 [ ₹ 56.00 lakhs ] 5 . Substituted vide Notification No. 34/2010 dated 17-5-2010 before it was read as 4 [ ₹ 166.00 lakhs ]