U/s. 35AC, IT ACT, 1961 - Eligible Projects Or Schemes, Expenditure On – Swami Shree Nirdoshanandji Manav Seva Trust, Gujarat - 22/2014 - Income Tax

NOTIFICATION NO. 22/2014 DATED 31-7-2014 S.O. 1945(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 737(E) dated 13.03.2009 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 15, Shree Nirdoshanandji Manav Seva Trust Hospital by Swami Shree Nirdoshanandji Manav Seva Trust Timbi Village, Umrala Taluk Bhavnagar-364320 (Gujarat) , as an eligible project or scheme, at the estimated cost of ₹ 3.44 crore, for a period of three years ending with financial year 2010-11, which was further extended vide notification number S.O. 1097 (E) dated 14.05.2012 for a period of three years ending with financial year 2013-14; And whereas vide notification No. S.O. 2406 (E) dated 9.10.2012 , the project cost was enhanced from ₹ 3.44 crore to ₹ 9.75 crore including a corpus fund of ₹ 6.25 crore amending notification number S.O. 737(E) dated 13.03.2009; And whereas the said project or scheme is likely to extend beyond 6 years; And whereas the project cost is likely to enhance from ₹ 9.75 crore including corpus fund of ₹ 6.25 crore to ₹ 29 crore including corpus fund of ₹ 20 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 specifying the said project or scheme for a further period of three years and also enhancing the project cost from ₹ 9.75 crore including corpus fund of ₹ 6.25 crore to ₹ 29 crore including corpus fund of ₹ 20 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 i) notifies the scheme or project Shree Nirdoshanandji Manav Seva Trust Hospital , which is being carried out by Swami Shree Nirdoshanandji Manav Seva Trust Timbi Village, Umrala Taluk, Bhavnagar-364 320 (Gujarat) , 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. 737(E) dated 13.03.2009 , to the following effect, namely:- 'In the said notification, in the Table against serial number (3), in column (4), relating to maximum amount of cost to be allowed as deduction under section 35AC , for the letters, figures and words Rs. 9.75 crore including corpus fund of ₹ 6.25 crore , the letters, figures and words Rs. 29 crore including corpus fund of ₹ 20 crore , shall be substituted'. [F.NO.V.27015/1/2014-SO(NAT.COM)]