U/s. 35AC, IT ACT, 1961 - Eligible Projects Or Schemes, Expenditure On – Friends of the Tribal Society, Kolkatta - 44/2015 - Income Tax

NOTIFICATION No. 44/2015 New Delhi, the 6th January, 2015 S.O. 95(E).- Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O.901(E) dated the 20 th September, 2001 , 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 13, for 1 [Literacy project of running 21050 One Teacher Schools (OTS) at 21050 tribal areas in 15 States] by Friends of the Tribal Society, 19- Ganga Prasad Mukherjee Road, Kolkatta-700025 , as an eligible project or scheme, at the estimated cost of ₹ 867 lakh for a period of three years beginning with assessment year 2002-2003; which was extended further vide notification number S.O.797(E) dated the 5th July, 2004 for a period of three years beginning with financial year 2004-2005; which was extended further vide notification number S.O.478(E) dated the 29th March, 2007 for a period of three years beginning with financial year 2007-08; and which was further extended vide notification number 1384(E) dated 14.6.2011 for a period of three years ending with financial year 2013-14; And whereas by notification number S.O.478(E) dated the 29th March, 2007 the estimated cost was enhanced from ₹ 867 lakh to ₹ 1650 lakh; and which was further enhanced vide notification number 1384(E) dated 14.6.2011 from ₹ 1650 lakh to ₹ 5504.04 lakh; And whereas the said project or scheme is likely to extend beyond twelve years; And whereas the project cost is likely to enhance from ₹ 5504.40 lakh to 12630 lakh; 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 amending the project cost from ₹ 5504.40 lakh to 12630 lakh. 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 specifies the scheme or project for Literacy project of running 2890 One Teacher Schools (OTS) at 2890 tribal areas in 6 States , which is being carried out by Friends of the Tribal Society, 19-Ganga Prasad Mukherjee Road, Kolkatta-700025 , as an eligible project or scheme for a further period of three years commencing with financial year 2014-15, i.e., 2014- 15, 2015-16 and 2016-17; and (b) further amends the said notification number S.O.901(E) dated the 20th September, 2001 , to the following effect, namely :- In the said notification, in the Table against serial number 13, in column (4), relating to maximum cost to be allowed as deduction under section 35AC , for the letters, figures and word Rs. 5504.04 lakh the letters, figures and word ₹ 12630 lakh shall be substituted. [ F.No.V-27015/3/2014-SO (NAT.COM)] MAKKHAN LAL MEENA, Dy. Secy. (National Committee) ----------------- Notes:- 1. Substituted vide Not. 217/2015 - Dated 16-10-2015 , before it was read as, Literacy project of running 2890 One Teacher Schools (OTS) at 2890 tribal areas in 6 States