Notification u/s 35AC - Notifies the scheme or project "Integrated Rural Development Project" which is being carried out by "Jankidevi Bajaj Gram Vikas Sanstha, C/o Samaj Seva Kendra, Survey No.4272, Behind Akurdi Post Office, Akurdi, Pune - 411 035" - 30/2013 - S.O. 3148(E) - Income Tax

NOTIFICATION NO. 30/2013 DATED 17-10-2013 S.O. 3148(E) - Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O.878(E), dated the 30th November, 1992 , 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 3, "Integrated Rural Development Project" by "Jankidevi Bajaj Gram Vikas Sanstha, C/o Samaj Seva Kendra, Survey No. 4272, Behind Akurdi Post Office, Akurdi, Pune - 411 035", as an eligible project or scheme for a period of three years beginning with assessment year 1993-94, which was extended further vide notification number S.O. 293(E), dated the 4th April, 1995 for a period of three years beginning with assessment year 1996-97, which was extended further vide notification number S.O.438(E), dated the 20th May, 1998 for a period of three years beginning with assessment year 1999-2000, which was extended further vide notification number S.O. 1384(E), dated the 30th December, 2002 for a period of three years beginning with assessment year 2002-03 and which was extended further vide notification number S.O. 789(E), dated the 5th July, 2004 for a period of three years beginning with financial year 2004-05; which was extended further vide notification number S.O. 2400(E), dated the 3rd October, 2008 for a period of two years beginning with financial year 2008-09 to give the applicant time to spend the already collected amount u/s. 35AC without raising further amount during the period; which was further extended vide notification number S.O. 644(E), dated 22nd March, 2010 for further three years ending with financial year 2012-13. And whereas by notification number S.O.438(E), dated the 20th May, 1998 the estimated cost was enhanced from Rs. 118 lakh to Rs. 80.72 lakh, vide notification number S.O. 319(E), dated the 11th May, 1999 the estimated cost was further enhanced from Rs.182.72 lakh to Rs. 298.60 lakh, vide notification number S.O. 789(E), dated the 5th July, 2004 the estimated cost was further enhanced from Rs. 298.60 lakh to Rs. 704.14 lakh; vide notification number S.O. 2604(E) dated 14th October, 2009 the project cost was further enhanced from Rs. 704.14 lakh to Rs. 821.80 lakh, vide notification number S.O. 644(E), dated 22nd March, 2010 the estimated cost was further enhanced from Rs. 821.80 lakh to Rs. 1219.80 lakh; And, whereas, by notification number S.O. 2410(E), dated 24-10-2011, the notification S.O. 878(E), dated 30-11-1992 was amended by adding the words "villages in Wardha district apart from villages of Pune Aurangabad districts in Maharashtra Sikar District in Rajasthan within the limit of already approved cost" in the Table against serial number 3, in column (3). And whereas the said project or scheme is likely to extend beyond 21 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 and also enhancement in the estimated cost; 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 "Integrated Rural Development Project" which is being carried out by "Jankidevi Bajaj Gram Vikas Sanstha, C/o Samaj Seva Kendra, Survey No.4272, Behind Akurdi Post Office, Akurdi, Pune - 411 035", as an eligible project or scheme, for a further period of three years commencing with financial year 2013-14, i.e., 2013-14, 2014-15 2015-16. (b) further amends the said notification S.O. 878(E), dated 30-11-1992 , to the following effect, namely :- In the said notification, in the Table against serial number 3 in column (4), relating to maximum amount of cost to be allowed as deduction under section 35AC , for the letters, figures and words "Rs. 1219.80 lakh", the letters, figures and words "Rs. 2021.80 lakh" shall be substituted. [F.NO.V-27015/2/2013-SO (NAT.COM)]