Notification u/s 35AC - Notifies the scheme Rotary Noida Blood Bank - 47/2012 - Income Tax

Notification No. 47/2012 Dated : 14.05.2012 S.O. 1080 (E)- Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 2033(E), dated 6th August, 2009 , 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 5, Rotary Noida Blood Bank by Rotary Noida Research and Social Welfare, A-108, Sector-40, Noida 201 301, as an eligible project or scheme for a period of three years beginning with the financial year 2009-10 ; And whereas the said project or scheme is likely to extend beyond three 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 extending the said project or scheme for a further period of three years and enhancing the project cost from ₹ 139.44 lakh to ₹ 539.44 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) , (a) hereby notifies the scheme or project Rotary Noida Blood Bank which is being carried out by Rotary Noida Research and Social Welfare, A-108, Sector-40, Noida 201 301, as an eligible project or scheme for a further period of three years commencing with the financial year 2012-13, i.e., 2012-13, 2013-14 and 2014-15. (b) further amends the said notification number S.O. 2033(E), dated 6th August, 2009 , to the following effect, namely : In the said notification, in the Table against serial number 8, in column (4), relating to maximum amount of cost to be allowed as deduction under section 35AC of the Income-tax Act, 1961 for the letters, figures and word ₹ 139.44 lakh the letters, figures and word ₹ 539.44 lakh shall be substituted. [F. No. V. 27015/2/2012/SO (NAT.COM)]