U/s. 35AC, IT ACT, 1961 - Eligible Projects or Schemes, Expenditure On – The Banyan, Chennai - S.O. 3453(E) - Income Tax

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION No. 279/2015 New Delhi, the 17 th December, 2015 S.O. 3453(E) .-Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 2033(E) dated 6th August, 2009 , 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 notified at serial number 6, Corpus and recurring fund for Banyan by The Banyan, 6th Main Road, Mogapair Eri Scheme, Mogapair West, Chennai - 600 037 , as an eligible project or scheme for a period of three years beginning with financial year 2009-10 and which was extended further vide notification number S.O. No. 630(E) dated 12.3.2013 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 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; 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 notifies the scheme or project Corpus and recurring fund for Banyan which is being carried out by The Banyan, 6 th Main Road, Mogapair Eri Scheme, Mogapair West, Chennai - 600 037 , without any change in the approved cost of ₹ 9.5 crore for corpus ₹ 6.00 crore for recurring, as an eligible project or scheme for a further period of three years commencing with the financial year 2015-16 i.e. 2015-16, 2016-17 2017-18. [F. No. V. 27015/4/2015-SO (NAT.COM)] MAKKHAN LAL MEENA, Dy. Secy. (National Committee)