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Section 35AC - Eligible projects or schemes - Integrated Rural Development Project - Akurdi, Pune - 011/2009 - Income TaxExtract Section 35AC - Eligible projects or schemes - Integrated Rural Development Project - Akurdi - Pune NOTIFICATION NO. 11/2009 DATED 22-3-2010 S.O. 644(E).- Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O. 878(E), dated 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-411035, 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. 0.438(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; which was extended further vide notification number S. O. 2400(E), dated the 3rd October, 2008 for a period of two years beginning with financial year 2008-09; to give the applicant time to spend the already collected amount u/s. 35AC without raising further amount during the period. 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 5th July, 2004, the estimated cost was further enhanced from ₹ 298.60 lakh to ₹ 704.14 lakh vide notification number S.O. 2604(E), dated 14-10-2009 the project cost was further enhanced from ₹ 704.14 lakh to ₹ 821.80 lakh; And, whereas, the said project or scheme is likely to extend beyond eighteen 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 three years and amending the project cost from ₹ 821.80 lakhs to ₹ 1219.80 lakhs; 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 Integrated Rural Development Project being carried out by Jankidevi Bajaj Grham Vikas Sanstha, C/o Samaj Seva Kendra, Survey No. 4272, Behind Akurdi Post Office, Akurdi, Pune-411035, for a period of three years beginning with financial year 2010-11, i.e., 2010-11, 2011-12 2012-13. (b) further amends the said notification number S.O.878(E), dated the 30th November, 1992 to the following effect, namely :- In the said notification, in the Table against serial number 3, in column (4) relating to maximum amount of cost to be allowed as deduction under Section 35AC , for the letters, figures and word ₹ 821.80 lakhs , the letters, figures and word ₹ 1219.80 lakhs shall be substituted. [F.No.V-27015/5/2009-SO(NAT. COM)]
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