U/s. 35AC, IT ACT, 1961 - Eligible Projects Or Schemes, Expenditure On - Shree Baldevdas Charitable Trust, Ahmedabad - 111/2011 - Income Tax

NOTIFICATION NO. 111/2011 New Delhi, the 18 th October, 2011 S.O. 2405(E).- Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 422(E) dated the 19 th May, 1998, issued under clause (b) of the Explanation to section 35AC of the income-tax Act, 1961, the Central Government had notified at serial number 5, Purchase of Ambulance; instruments and running of welfare activities (medical; aid/camps, distribution of foodgrain and clothes) by Shree Baldevdas Charitable Trust,, 18, Ravpura Society, B/h. Memnagar Fire, Station, Navragpura, Ahmedabad - 380 009, as, an eligible project or scheme for a period of three years beginning with assessment year 1999-2000, which was extended further vide notification number S.O.558(E) dated the 20 th June, 2001 for a period of three years beginning with assessment year 2002-2003, Which was extended further vide notification number S.O.788(E) dated the. 5 th July, 2004 for a period of three years beginning with financial year 2004-2005 and which was extended further vide notification number S.O.1801 (E) dated 23 rd October, 2007 for a period of three years beginning with financial year 2007-08 and which was extended further vide notification number S.O.1150(E) dated the 17 th May, 2010 for a period of three years beginning with financial year 2010-11; And whereas by notification number S. O.788(E) dated the 5 th July, 2004 the estimated cost was enhanced from ₹ 75 lakh to ₹ 175 lakh; vide notification number S.O.1801(E) dated 23 rd October, 2007 the-estimated cost was enhanced from ₹ 175 lakh . to ₹ 325 lakh with a corpus fund of ₹ 30 lakh; And whereas the said project or scheme is likely to extend beyond twelve years; And, whereas, the National Committee for the 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 specifying the said project or scheme amending the project cost from ₹ 325 lakh with an corpus fund of ₹ 30 lakh to ₹ 490 lakh including a corpus fund of ₹ 30 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 ,- hereby notifies the scheme or project Purchase of Ambulance; instruments and running of welfare activities (medical aid/camps, distribution of foodgrain and clothes) ,which is being carried out by Shree Baldevdas Charitable Trust, 18, Ravpura Society, B/h. Memnagar Fire Stattion, Navragpura, Ahmedabad 380 009; (c) further amends the said notification number S.O.422(E) dated the 19 th May, 1998 , to the following effect, namely : - In the said notification, in the Table against serial number 35, 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. 325 lakh with an corpus fund of ₹ 30 lakh the letters, figures and word Rs. 490 lakh including a corpus fund of ₹ 30 lakh shall be substituted. [F. No. V-27015/4/2011-SO (NAT.COM)] NAVEEN CHANDRA, Director (National Committee)