U/s. 35AC, IT ACT, 1961 - Eligible Projects Or Schemes, Expenditure On –Tamilnad Kidney Research Foundation, Chennai - 32/2014 - Income Tax

NOTIFICATION NO. 32/2014 DATED 31-7-2014 S.O. 1955(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 2370(E), dated 3-10-2008 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 26, Corpus fund by Tamilnad Kidney Research Foundation, 17, Wheatcrofts Road, Nungambakkam, Chennai-600034 , as an eligible project or scheme, at the estimated cost of ₹ 6 crore as corpus fund, for a period of three years ending with financial year 2010-11, and which was further extended vide notification number S.O. 2406(E), dated 18-10-2011 for a period of three financial years ending with financial year 2013-14; And whereas the said project or scheme is likely to extend beyond 6 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 Corpus fund , which is being carried out by Tamilnad Kidney Research Foundation, 17, Wheatcrofts Road, Nungambakkam, Chennai 600 034 , without any change in the approved cost of ₹ 6 crore as corpus fund, for a further period of three years commencing with financial years 2014-15, i.e., 2014-15, 2015-16 and 2016-17. [F.NO.V.27015/1/2014-SO(NAT.COM)]