U/s. 35AC, IT ACT, 1961 - Eligible Projects or Schemes, Expenditure On - Noida Lok Manch, Noida, Uttar Pradesh - S.O. 1237(E) - Income Tax

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION No. 10/2016 New Delhi, the 29th March, 2016 S.O. 1237(E). -Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O.2907 (E) dated 17th November, 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 9, i) Noida Public Library, ii) Sanskar Kendra School, Hoshiarpur Village, Sector 51, Noida, iii) Sanskar Kendra School,Ghari Chawkandi, Sector-68, Noida, iv) Sanskar Kendra School, Sarka Village, Noida by Noida Lok Manch, D-134, Sector 15, Noida-201301, as an eligible project or scheme for a period of three years beginning with financial year 2009-10 and which was further extended vide S.O. No. 2411(E) dated 9.10.2012 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. However, the exemption u/s 35AC will not apply to the funds received under Schedule VII of the Section 135 of the Companies Act and Companies (CSR) Rules 2014 ; 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 i) Noida Public Library, ii) Sanskar Kendra School, Hoshiarpur Village, Sector 51, Noida, iii) Sanskar Kendra School,Ghari Chawkandi, Sector-68, Noida, iv) Sanskar Kendra School, Sarka Village, Noida which is being carried out by Noida Lok Manch, D-134, Sector 15, Noida-201301, without any change in the approved cost of ₹ 169 lakh and ₹ 155 lakh, 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 and 2017-18. (b) The exemption u/s 35AC will not apply to the funds received under Schedule VII of the Section 135 of the Companies Act and Companies (CSR) Rules 2014. [F.No.V. 27015/1/2016-SO (NAT.COM)] MAKKHAN LAL MEENA, Dy. Secy. (National Committee)