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U/s. 35AC IT ACT 1961 - Eligible Projects or Schemes Expenditure On - Indian Medical Centre Chennai Tamil Nadu

Income Tax - S.O.1523 (E) - Dated:- 26-4-2016 - MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION No. 40/2016 New Delhi, the 26th April, 2016 S.O.1523 (E).- Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 1052(E) dated 11.05.2010, 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 h .....

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reas the said project or scheme is likely to extend beyond six 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 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 t .....

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