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U/s. 35AC IT ACT 1961 - Eligible Projects or Schemes Expenditure On - Bellur Krishnamachar & Seshamma Smaraka Nidhi Trust Bangalore

Income Tax - S.O.1524 (E) - Dated:- 26-4-2016 - MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION No. 41/2016 New Delhi, the 26th April, 2016 S.O.1524 (E).- Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.466(E) dated 29th March, 2007 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 nu .....

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ended vide notification number S.O. 659 (E) dated 22nd March, 2010 for a period of three years ending with Financial year 2012-13 and the project was further extended vide notification number S.O. 3162(E) dated 17.10.2013 for a period of three years ending with financial year 2015-16; And whereas the said project or scheme is likely to extend beyond 6 years; And whereas the project cost is likely to enhance from ₹ 22.46 crore including a corpus fund of ₹ 15.00 c .....

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#8377; 15.00 crore to ₹ 41.46 crore including a corpus fund of ₹ 26.00 crore. 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 Companies (CSR) Rules 2014; 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 Se .....

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