Notification u/s 35AC - Notifies the scheme or project "Construction of building for Special School, Hostel and Staff Quarters, purchase of equipments, furnishing and running of Dakshinya Institute for the Mentally Handicapped at Padapalakaluru Village, Guntur, Andhra Pradesh" which is being carried out by Sri Dakshinya Bhava Samithi, D. No. 4-2-16, 4th Lane, Lakshmipuram, Guntur- Andhra Pradesh - 131/2012 - Income Tax

NOTIFICATION NO. 131/2012 DATED 12-3-2013 SO 660(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 154(E), dated the 23rd February, 2000, 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 2, "Construction of building for Special School, Hostel and Staff Quarters, purchase of equipments, furnishing and running of Dakshinya Institute for the Mentally Handicapped at Padapalakaluru Village, Guntur, Andhra Pradesh" by Sri. Dakshinya Bhava Samithi, D. No. 4-2-16, 4th Lane, Lakshmipuram, Guntur-522007 (Andhra Pradesh), as an eligible project or scheme for a period of three years beginning with assessment year 2000-2001, which was extended further vide notification number S.O. 1278(E), dated the 9th December, 2002 for a period of three years beginning with assessment year 2003-2004, which was extended further vide notification number S.O. 497(E), dated the 4th April, 2006 for a period of three years beginning with financial year 2005-2006 and which was extended further vide notification number S.O. 1476 (E), dated 17th June, 2008 for a period of three years beginning with financial year 2008-09; And whereas the said project or scheme is likely to extend beyond twelve 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 Rs. 267.80 lakh to Rs. 459.80 lakh; 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) , hereby notifies the scheme or project "Construction of building for Special School, Hostel and Staff Quarters, purchase of equipments, furnishing and running of Dakshinya Institute for the Mentally Handicapped at Padapalakaluru Village, Guntur, Andhra Pradesh" which is being carried out by Sri Dakshinya Bhava Samithi, D. No. 4-2-16, 4th Lane, Lakshmipuram, Guntur-522007 (Andhra Pradesh), as an eligible project or scheme for a further period of three years beginning with financial years 2011-12, i.e. 2011-12, 2012-13 2013-14, but with a direction that as the financial year 2011-12 has already lapsed, no certificate under section 35AC shall be issued for the financial year 2011-12. (b) further amends the said notification number S.O. 154(E), dated the 23rd February, 2000, to the following effect, namely:- "In the said notification, in the Table against serial number 2, in column (4), relating to maximum amount of cost to be allowed as deduction under section 35AC of Income-tax Act, 1961 for the letters, figures and word 'Rs. 267.80 lakh' the letters, figures and word 'Rs. 459.80 lakh' shall be substituted." [F.NO. V- 27015/4/2012-SO(NAT.COM)]