U/s. 35AC, IT ACT, 1961 - Eligible Projects Or Schemes, Expenditure On – Lupin Human Welfare & Research Foundation, Mumbai - 114/2011 - Income Tax

NOTIFICATION No. 114/2011 New Delhi, the 18 th October, 2011 S.O. 2408(E).- Whereas.by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 1462(E) dated 17 th June, 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 1, integrated Rural Development Programme by Lupin Human Welfare Research Foundation, 159, C.S.T. Road, Kalina, Santacruz (East), Mumbai 400 098, as an eligible project or scheme for a period of three years beginning with financial year 2008-09; And whereas the said project or scheme is likely to extend beyond three years enhancement; 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 11 M of the Income-tax Rules, 1962 for extending the said project or scheme for a further period of three years and amending the project cost from ₹ 14.35 crore to ₹ 24.09 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 notifies the scheme or project Integrated Rural Development Programme , which is being carried out by Lupin Human Welfare Research Foundation, 159, C.S.T. Road; Kalina, Santacruz (East), Mumbai 400 098, as an eligible project or scheme for a further period of three financial years commencing with the financial year 2011-12 i.e 2011-12, 2012-13 2013-14. (b) further amends the said notification number S.O.1462(E) dated the 17 th June, 2008 , to the following effect, namely:- In the said notification, in the Table against serial number 1, in column (4), relating to maximum amount of cost to be allowed as deduction under section of 35AC of Income Tax Act, 1961 for the letters, figures and word Rs. 14.35 crore the letters, figures-and word Rs. 24.09 crore shall be substituted. [F. No. V-27015/4/2011-SO (NAT.COM)] NAVEEN CHANDRA, Director (National Committee)