U/s. 35AC, IT ACT, 1961 - Eligible Projects Or Schemes, Expenditure On – Swami Vivekananda Education Trust, Gujarat - 17/2015 - Income Tax

NOTIFICATION NO.17/2015 DATED 6-1-2015 S.O. 68(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 1370(E) dated 14.06.2011 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 16, Advancement of Running and Support Education Institutions by Swami Vivekananda Education Trust, At : Nani Kadi Ta, Kadi, District Mehsana, Gujarat-382715 , as an eligible project or scheme, at the estimated cost of ₹ 4.89 crore for a period of three years ending with financial year 2013-14; and which was further extended vide notification number S.O. 3848(E) dated 27.12.2013 for a period of three years ending with financial year 2016-17; And whereas the project cost is likely to enhance from Rs.4.89 crore to ₹ 9.78 crore ; 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 enhancing the project cost from Rs. 4.89 crore to ₹ 9.78 crore . 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 amends the said notification number S.O. 1370(E) dated 14.06.2011 , to the following effect, namely:- In the said notification, in the Table against serial number (16), 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.4.89 crore , the letters, figures and words Rs.9.78 crore shall be substituted'. [F.NO.V.27015/3/2014-SO(NAT.COM)]