U/s. 35AC, IT ACT, 1961 - Eligible Projects Or Schemes, Expenditure On –Navjeevan Charitable Trust, Mumbai - 78/2013 - Income Tax

NOTIFICATION NO. 78/2013 DATED 27-12-2013 S.O. 3829(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O. 1860 (E) dated 11.08.2011, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961) , the Central Government had specified at serial number 14 A Caring Hand by Navjeevan Charitable Trust, 8, Jolly Bhavan No. 1, 10, New Marine Line, Mumbai -400020, Maharashtra , as an eligible project or scheme at the estimated cost of ₹ 15.34 crore, for a period of three years beginning with financial year 2011-12. And whereas the said project or scheme is likely to extend beyond three 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 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 for A Caring Hand which is being carried out by Navjeevan Charitable Trust, 8, Jolly Bhavan No. 1, 10, New Marine Line, Mumbai -400020, Maharashtra as an eligible project or scheme for a further period of three years commencing from the financial year 2014-15, i.e., 2014-15, 2015-16 and 2016-17. (b) further amends the said notification number S.O. 1860 (E) dated 11.08.2011 , to the following effect, namely :- In the said notification, in the Table against serial number 14, in column (4), relating to maximum amount of cost to be allowed as deduction under section 35AC , for the letters, figures and words Rs. 15.34 crore , the letters, figures and words Rs.24.49 crore shall be substituted. [F.NO.27015/3/2013-SO (NAT.COM)]