TMI BlogU/s. 35AC, IT ACT, 1961 - Eligible Projects or Schemes, Expenditure On - Karuna Trust, AhmedabadX X X X Extracts X X X X X X X X Extracts X X X X ..... f Finance (Department of Revenue) number S.O.92(E) dated the 2nd February, 1996 , issued under 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 5, Conduct eye operation, polio operation camps, oxygen cylinder seva and ambulance service all over Gujarat by Karuna Trust, 22, Gautam Nagar, Near Naranpur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tended vide notification number S.O. 3861(E) dated 27.12.2013 for a period of three years ending with financial year 2015-16; And whereas by notification number S.O.539(E) dated the 20th June, 2001 the estimated cost was enhanced from ₹ 94.00 lakh to ₹ 128.00 lakh; vide notification number S.O.1307(E) dated 4th June, 2008 the estimated cost was enhanced further from ₹ 128. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation 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 for enhancing the project cost from ₹ 470 lakh including a corpus fund of ₹ 270 lakh to ₹ 500 lakh including a corpus fund of ₹ 270 lakh. However, the exemption u/s 35AC will not apply to the funds received under Schedul ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... able against serial number (5), in column (4), relating to maximum amount of cost to be allowed as deduction under section 35 AC , for the letters, figures and words Rs.470 lakh including a corpus fund of ₹ 270 lakh , the letters, figures and words Rs.500 lakh including a corpus fund of ₹ 270 lakh shall be substituted . (b). The exemption u/s 35AC will not apply to the funds r ..... X X X X Extracts X X X X X X X X Extracts X X X X
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