U/s. 35AC, IT ACT, 1961 - Eligible Projects Or Schemes, Expenditure On –Prayas Social Welfare Society, Faridabad - 80/2013 - Income Tax

NOTIFICATION NO. 80/2013 DATED 27-12-2013 S.O. 3831(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 2545(E) dated 6.10.2009 , 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 2, Integrated Development of boys, girls and women from slum dwellers Construction and Development of a multifaceted training centre by Prayas Social Welfare Society, D.C. Model Sr. Sec. School, Sector - 09, Faridabad 121006 , as an eligible project or scheme at the estimated cost of ₹ 3.11 crore, for a period of two years beginning with financial year 2009-10; which was further extended vide notification S.O. No. 1378(E) dated 14.06.2011 for a period of three years ending with financial year 2013-14. And whereas the said project or scheme is likely to extend beyond five 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 extending the said project or scheme for a further period of three years and enhancement in the estimated cost; 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 Integrated Development of boys, girls and women from slum dwellers Construction and Development of a multifaceted training centre , which is being carried out by Prayas Social Welfare Society, D.C. Model Sr. Sec. School, Sector -09, Faridabad 121006, as an eligible project or scheme for a further period of three financial years commencing with the financial year the financial year 2014-15 i.e. 2014-15, 2015-16 and 2016-17. (b) further amends the said notification number S.O. 2545(E) dated 6.10.2009 read with notification number S.O. No. 1378(E) dated 14.06.2011, 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 ₹ 3.11 crore , the letters, figures and words ₹ 7.77 crore shall be substituted. [F.NO.27015/3/2013-SO (NAT.COM)]