U/s. 35AC, IT ACT, 1961 - Eligible Projects or Schemes, Expenditure On – Naandi Foundation, Hyderabad - S.O. 3057(E) - Income Tax

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION NO. 247/2015 New Delhi, the 10 th November, 2015 S.O. 3057(E).- Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. No. 1250 (E) dated 18.05.2009 , 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 10, Ensuring Children Learn by Naandi Foundation, 502, Trendset Towers, Road 2, Banjara Hills, Hyderabad 500- 034 , as an eligible project or scheme for a period of three years at the projected cost of ₹ 3.45 crore ending with financial year 2011-12 and which was extended further vide notification number S.O. 3183(E) dated the 17.10.2013 for a period of three years ending with financial year 2014-15; And whereas the said project or scheme is likely to extend beyond six years; And whereas the project cost is likely to enhance from ₹ 3.45 crore to ₹ 6.77 crore; 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 amending the projct cost from ₹ 3.45 crore to ₹ 6.77 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 specifies the scheme or project Ensuring Children Learn , which is being carried out by Naandi Foundation, 502, Trendset Towers, Road 2, Banjara Hills, Hyderabad 500- 034, as an eligible project or scheme for a further period of three years commencing with financial year 2015-16 i.e 2015-16, 2016-17 2017-18 and; (b) further amends the said notification number S.O. 1250 (E) dated 18.05.2009 , to the following effect, namely :- In the said notification, in the Table against serial number 10, in column (4), relating to maximum amount of cost to be allowed as deduction under section 35 AC , for the letters, figures and word Rs. 3.45 crore , the letters, figures and word Rs. 6.77 crore shall be substituted. [F. No.V. 27015/3/2015-SO (NAT.COM)] MAKKHAN LAL MEENA, Dy. Secy. (National Committee)