Exemption u/s 35AC - Central Government had specified for Sri Sathya Sai Gramin Jagriti Seva Sadan including health care, education, etc. by Shri Sathya Sai Gramin jagriti, Chandigarh, as an eligible project or scheme - Amendment in N. NO. S. O. 15(E), dated 11th January, 1994 - 286(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for Sri Sathya Sai Gramin Jagriti Seva Sadan including health care, education, etc. by Shri Sathya Sai Gramin jagriti, Chandigarh, as an eligible project or scheme - Amentment in N. NO. S. O. 15(E), dated 11th January, 1994 NOTIFICATION NO. 286(E) DATED 28-3-2001 Whereas by notification of the Government of India in the Ministry of Finance No. S. O. 15(E), dated 11th January, 1994, issued under clause ( b ) of the Explanation to section 35AC, of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 12, for Sri Sathya Sai Gramin Jagriti Seva Sadan (a multi-dimensional rural welfare project) including health care, education, sports, spiritual activities and vocational training at Village Darwa, District Yamuna Nagar, Haryana, by Shri Sathya Sai Gramin jagriti, Sai Sadan, House No. 551, sector 8-B, Chandigarh-160 018, as an eligible project or scheme for a period of two years beginning with the assessment year 1994-1995 which was extended further vide Notification No. S.O. 864(E), dated 27th October, 1995, for a period of three years beginning with the assessment year 1996-1997 and vide S. O. No. 864(E), dated 12th December, 1997, for a. period of three years beginning with the assessment year 1999-2000 ; And whereas the said project or scheme is likely to extend beyond eight years ; And whereas the National Committee has, being satisfied that the 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 specifying the said project or scheme for a further period of three years and amending the project cost from Rs. 70 lakhs to Rs. 137 lakhs (Rs. 45 lakhs as corpus fund, Rs. 19 lakhs for recurring expenses and Rs. 3 lakhs for purchase of van) ; 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 of Sri Sathya Sai Gramin Jagriti Seva Sadan (a multi-dimensional rural welfare project) including health care, education, sports, spiritual activities and vocational training at village Darwa, District Yamuna Nagar, Haryana, which is being carried out by Shri Sathya Sai Gramin jagriti, Sai Sadan House, No. 551, Sector 8-B, Chandigarh-160 018, as an eligible project or scheme for a further period of three years beginning with the assessment year 2002-2003 ; and ( b ) further amends the said Notification No. S. O. 15(E), dated 11th January, 1994, to the following effect, namely : In the said notification, in the table against serial number 12, in column (4) relating to maximum cost for which approved, for the letters, figures and word Rs, 31 lakhs the letters, figures and word Rs. 137 lakhs (Rs. 45 lakhs as corpus fund, Rs. 19 lakhs for recurring expenses and Rs. 3 lakhs for purchase of van) shall be substituted. [No. 86-2001-F. No. NC-123-20001]