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U/s. 35AC IT ACT 1961 - Eligible Projects or Schemes Expenditure On - Bharti Foundation New Delhi

Income Tax - S.O.1521 (E) - Dated:- 26-4-2016 - MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION No.38/2016 New Delhi, the 26th April, 2016 S.O.1521 (E).- Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O.466(E) dated the 29th March, 2007, 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 1, Satya .....

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.O. 3643(E) dated 17.10.2013(read with corrigendum S.O. No. 3643(E) dated 11.12.2013) for a period of three years ending with financial year 2015-16; And whereas by notification number 247(E) dated 21st January, 2009, the estimated cost was enhanced from ₹ 35.00 crore including a corpus fund of ₹ 10.00 crore to ₹ 115.00 crore including a corpus fund of ₹ 30.00 crore; further, vide notification S.O. 2529(E) dated 11.10.2010 the project cost was changed from ₹ 115 cro .....

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ing corpus fund of ₹ 110.00 crore ; 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 specifying the said project or scheme for a further period of three years. However, the exemption u/s 35AC will not apply to the funds received under Schedule VII of the Section 135 of the Companies Act and .....

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