U/s. 35AC, IT ACT, 1961 - Eligible Projects Or Schemes, Expenditure On – CORRIGENDUM - Notification No. S.O. 92(E) dated 6th January, 2015 - 123/2015 - Income Tax

NOTIFICATION NO. 123/2015 DATED 11-2-2015 S.O. 493(E) - In partial modification the notification of the Government of India, Ministry of Finance (Department of Revenue) number S.O. 92(E) dated 6th January, 2015 published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (ii), dated the 6th January, 2015 in paragraphs 2 may be substituted as:- And whereas by Notification Number 2394(E), dated the 3rd October, 2008 the estimated cost was enhanced from ₹ 2.50 crore to ₹ 6.00 crore; which was further enhanced vide notification number S.O. 2885 dated 27-12-2011 from ₹ 6.00 crore to ₹ 11.00 crore and whereas the project cost is likely to enhance from ₹ 11.00 crore to ₹ 18.50 crore. Further, in para 4 may be substitute as under:- And, whereas, the National Committee for the 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 also enhancing the project cost from ₹ 11.00 crore to ₹ 18.50 crore. Further, in para 5 may be substitute as under:- 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 Comprehensive rehabilitation, medical human resource development services for the blind and disabled , which is being carried out by Blind People's Association, Jagdish Chowk, Surdas Marg, Vastrapur, Ahmedabad - 380015 Gujarat , for a further period of three years commencing with financial year 2014-15, i.e., 2014-15, 2015-16 and 2016-17; and (b) further amends the said notification number 1111(E) dated the 8th August, 2005 to the following effect, namely:- In the said notification, in the Table against serial number 2, 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. 11.00 crore , the letters, figures and words Rs. 18.5 crore shall be substituted. The other contents of Notification No. S.O. 92(E) dated 6th January, 2015 shall remain unchanged. [F.NO.V.27015/3/2014-SO(NAT.COM)]