Exemption u/s 35AC - notified at serial number 8, "Construction of a school building and running of SOS Children's Village at Tambaram East, Chennai, Tamilnadu" by SOS Children Villages of India-Chatnath Homes, Raja Krishna Road, Teynampet, Chennai, as an eligible project or scheme - 66/2009 - Income Tax

Exemption u/s 35AC - notified at serial number 8, "Construction of a school building and running of SOS Children's Village at Tambaram East, Chennai, Tamilnadu" by SOS Children Villages of India-Chatnath Homes, Raja Krishna Road, Teynampet, Chennai, as an eligible project or scheme NOTIFICATION New Delhi the 18th May, 2009 S.O. 1258(E).- Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O.676(E) dated the 11th August, 1998, 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 8, "Construction of a school building and running of SOS Children's Village at Tambaram East, Chennai, Tamilnadu" by SOS Children Villages of India-Chatnath Homes, 7, Raja Krishna Road, Teynampet, Chennai-600018, as an eligible project or scheme for a period of three years beginning with assessment year 1999-2000, which was extended further vide notification number S.O.568(E) dated the 20th June, 2001 for a period of three years beginning with assessment year 2002-2003, which was extended further vide notification number S.O.793(E) dated the 5th July, 2004 for a period of three years beginning with financial year 2004-2005 and which was extended further vide notification number S.O.246(E) dated the 15th February, 2007 for a period of three years beginning with financial year 2006-2007; And whereas by notification number S.O.246 (E) dated the 15th February, 2007 the estimated cost was enhanced from Rs.60.00 lakh to Rs.l05.00 lakh; And whereas the said project or scheme is likely to extend beyond twelve 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 and amending the project cost from Rs.105.00 lakh to Rs. l50.00 lakh; 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 "Construction of a school building and running of SOS Children's Village at Tambaram East, Chennai, Tamilnadu", being carried out by SOS Children Villages of India Chatnath Homes, 7, Raja Krishna Road, Teynampet, Chennai 600018, for a period of three more years beginning with financial year 2009-2010 i.e. 2009-2010, 2010-2011 2011-2012. (b) further amends the said notification number S.O.676(E) dated the 11th August, 1998, to the following effect. namely: In the said notification, in the Table against serial number 8, in column (4), relating to maximum cost for which allowed, for the letters, figures and word "Rs,105.00 lakh" the letters, figures and word "Rs. 150 lakh" shall be substituted. [No. 66/2009/F No NC-274/10/2009] NAVEEN CHANDRA, Director (National Committee)