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Exemption u/s 35AC - central government had notified, "integrated rural development project" by jankidevi bajaj gram vikas sanstha, c/o samaj seva kendra, pune as an eligible project or scheme - S.O. 2400(E) - Income TaxExtract Exemption u/s 35ac - central government had notified, integrated rural development project by jankidevi bajaj gram vikas sanstha, c/o samaj seva kendra, pune as an eligible project or scheme Notification No. 79/2008 [F.No. NC-274/13/2008] S.O. 2400(E) dated 3-10-2008 Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 878(E), dated the 30th November, 1992, 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 notified at serial number 3, Integrated Rural Development Project by Jankidevi Bajaj Gram Vikas Sanstha, C/o Samaj Seva Kendra, Survey No. 4272, Behind Akurdi Post Office, Akurdi, Pune - 411 035, as an eligible project or scheme for a period of three years beginning with assessment year 1993-94, which was extended further vide notification number S.O. 293(E), dated the 4th April, 1995 for a period of three years beginning with assessment year 1996-97, which was extended further vide notification number S.O. 438(E), dated the 20th May, 1998 for a period of three years beginning with assessment year 1999-2000, which was extended further vide notification number S.O. 1384(E), dated the 30th December, 2002 for a period of three years beginning with assessment year 2002-03 and which was extended further vide notification number S.O. 789(E), dated the 5th July, 2004 for a period of three years beginning with financial year 2004-05; And whereas by notification number S.O. 438(E), dated the 20th May, 1998 the estimated cost was enhanced from ₹ 118.00 lakh to ₹ 180.72 lakh, vide notification number S.O. 319(E), dated the 11th May, 1999 the estimated cost was further enhanced from ₹ 182.72 lakh to ₹ 298.60 lakh and vide notification number S.O. 789(E), dated the 5 July, 2004 the estimated cost was further enhanced from ₹ 298.60 lakh to ₹ 704.14 lakh; And whereas the said project or scheme is likely to extend beyond fifteen years; And, whereas, the National Committee for the 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 two years to give the applicant to spend the already collected amount under section 35AC of the Income-tax Act, 1961; 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), hereby notifies the scheme or project Integrated Rural Development Project being carried out by Jankidevi Bajaj Gram Vikas Sanstha, C/o. Samaj Seva Kendra, Survey No. 4272, Behind Akurdi Post Office, Akurdi, Pune - 411 035, as an eligible project or scheme for a further period of two years beginning with financial year 2008-09 to spend the already collected amount under section 35AC. However, the applicant cannot raise any further donation under section 35AC of Income-tax Act, 1961.
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