Notification u/s 35AC - Notifies the scheme or project "Yuva Parivartan-Second Chance School of Business for less Educated Deprived youth - (80 outreach centers all over India)" which is being carried out by "Kherwadi Social Welfare Association, Parishramalaya Bandra (E), Mumbai - 400 051" - 27/2013 - S.O. 3145(E) - Income Tax

NOTIFICATION NO. 27/2013 DATED 17-10-2013 S.O. 3145(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) S.O. 2033(E), dated 6th August, 2009 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 3 "Yuva Parivartan-Second Chance School of Business for less Educated Deprived youth - (80 outreach centers all over India)" by "Kherwadi Social Welfare Association, Parishramalaya Bandra (E), Mumbai - 400 051", as an eligible project at the estimated cost of Rs.9.75 crore for a period of three years ending with financial year 2011-12. And whereas the said project or scheme is likely to extend beyond 3 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; 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 "Yuva Parivartan-Second Chance School of Business for less Educated Deprived youth - (80 outreach centers all over India)" which is being carried out by "Kherwadi Social Welfare Association, Parishramalaya Bandra (E), Mumbai - 400 051", without any change in the approved cost of Rs. 9.75 crore, as an eligible project or scheme, for a further period of three years commencing with financial year 2012-13, i.e., 2012-13, 2013-14 2014-15, but with the direction that as the financial year 2012-13 has already elapsed, no certificate under section 35AC(1) of the IT Act, 1961 shall be issued for the said financial year 2012-13. [F.NO.V-27015/2/2013-SO (NAT.COM)]