U/s. 35AC, IT ACT, 1961 - Eligible Projects Or Schemes, Expenditure On –Dardionu Rahat Fund, Ahmedabad - 09/2015 - Income Tax

NOTIFICATION NO. 09/2015 DATED 6-1-2015 S.O. 60(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 399(E) dated 6.6.96 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 11, Medical relief project by Dardionu Rahat Fund, 102, Kashi Parekh Complex, 29, Adarsh Society, Navrangpura, Ahmedabad-380009 , as an eligible project or scheme, at the estimated cost of ₹ 137.08 lakh for a period of three years ending with financial year 1998-1999; which was extended further vide notifications No. S.O. 312(E) dated 11.5.99 for three years ending with financial year 2001-02; which was further extended vide notification number S.O. 608(E) dated 7.6.2002 for a period of three years ending with financial year 2004-05; which was further extended vide notification number S.O. 1601(E) dated 14.11.2005 for three years ending with financial year 2007-08; which was further extended vide notification number S.O. 1317(E) dated 4.06.2008 for three years ending with financial year 2010-11; and which was further extended vide notification number S.O. 866(E) dated 27.4.2011 for a period of three years ending with financial year 2013-14; And whereas the project cost was enhanced vide notification number S.O. 510(E) dated 19.4.2004 from 'Rs.137.08 lakh' to 'Rs.157.08- lakh'; which was further enhanced vide notification number S.O. 1601(E) dated 14.11.2005 from 'Rs.157.08 lakh' to 'Rs.229.08 lakh'; which was further enhanced vide notification number S.O. 1317(E) dated 4.6.2008 from 'Rs.229.08 lakh' to 'Rs, 324.08 lakh'; and which was further enhanced vide notification number S.O. 866(E) dated 27.4.2011 from 'Rs.324.08 lakh' to 'Rs.454.08 lakh'; And whereas the said project or scheme is likely to extend beyond 18 years; And whereas the project cost is likely to enhance from ₹ 4::4.08 lakh to Rs.724.00 lakh . 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 enhancing the project cost from ; ₹ 454.08 lakh' to 'Rs.724.00 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 i) notifies the scheme or project Medical relief project , which is being carried out by Dardionu Rahat Fund, 102, Kashi Parekh Complex, 29, Adarsh Society, Navrangpura, Ahmedabad-380009 , for a further period of three years commencing with financial year 2014-15, i.e., 2014-15, 2015-16 and 2016-17 and ii) amends the said notification number S.O. 399(E) dated 6.6.96 [read with notification numbers S.O. 510(E) dated 19.4.2004 , S.O. 1601(E) dated 14.11.2005, S.O.1317(E) dated 4.6.2008 and S.O. 866(E) dated 27.4.2011 ], to the following effect, namely:- 'In the said notification, in the Table against serial number (11), in column (4), relating to maximum amount of cost to be allowed as deduction under section 35 AC , for the letters, figures and words Rs.454.08 lakh , the letters, figures and words Rs.724.00 lakh shall be substituted'. - [F.NO.V.27015/3/2014-SO(NAT.COM)]