U/s. 35AC, IT ACT, 1961 - Eligible Projects Or Schemes, Expenditure On – Vatsalya Trust, Mumbai - 48/2014 - Income Tax

NOTIFICATION NO. 48/2014 DATED 31-7-2014 S.O. 1971(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 1586(E), dated 11.11.2005 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 9, (i) Orphanage, (ii) Balika Ashrama, (iii) Old age home, (iv) Child parents guidance centers by Vatsalya Trust, C-2/32, Shree Vijay Kunj Society, Kanjur Marg (East), Mumbai 400042 , as an eligible project or scheme, at the estimated cost of ₹ 1.92 crore, for a period of three years ending with financial year 2007-08, which was further extended vide notification number S.O. 2391(E), dated 3.10.2008 for a period of three years ending with financial year 2010-11, and which was further extended vide notification number S.O. 2399(E), dated 18.10.2011 for a period of three years ending with financial year 2013-14; And whereas the said project or scheme is likely to extend beyond 9 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. 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 notifies the scheme or project (i) Orphanage, (ii) Balika Ashrama, (iii) Old age home, (iv) Child parents guidance centers , which is being carried out by Vatsalya Trust, C-2/32, Shree Vijay Kunj Society, Kanjur Marg (East), Mumbai 400042 , without any change in the approved cost of ₹ 1.92 crore, for a further period of three years commencing with financial year 2014-15, i.e., 2014-15, 2015-16 and 2016-17. [F.NO.V.27015/1/2014-SO(NAT.COM)]