U/s. 35AC, IT ACT, 1961 - Eligible Projects or Schemes, Expenditure On - Cancer Patients Aid Association, Mumbai - S.O.1505 (E) - Income Tax

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION No. 22/2016 New Delhi, the 26th April, 2016 S.O.1505 (E) .- Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O.180(E) dated the 10th March, 1997 , 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, (a) Renovation of building equipments and furnishing of Cancer Detection Unit at Mumbai Maharashtra; and (b) Cancer Awareness, Education and Detection camps; at Ahmednagar, Nanded, Buldana, Parbhani, Akola Amravati, Yavatmal, Jalgoan, Dhule, Beed and Mumbai, Maharashtra by Cancer Patients Aid Association, 5, Malhotra House, Fort, Mumbai 400001 , as an eligible project or scheme for a period of three years beginning with assessment year 1997-1998; which was extended further vide notification number S.O.638(E) dated the 5th July, 2000 for a period of three years beginning with assessment year 2000-2001; which was extended further vide notification number S.O.1280(E) dated the 9th January, 2002 for a period of three years beginning with assessment year 2003-2004; which was extended further vide notification number S.O.148(E) dated the 3rd February, 2006 for a period of three years beginning with financial year 2005-2006; which was extended further vide notification number S.O.246(E) dated the 21st January, 2009 for a period of three years beginning with financial year 2008-09, which was further extended vide notification number 2400(E) dated 18.10.2011 for a period of three years ending with financial year 2013-14 and which was further extended vide notification number 479(E) dated 11.2.2015 for a period of three years ending with financial year 2016-17 ; And whereas the project cost is likely to enhance from ₹ 365.67 lakh to ₹ 700.00 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 , for amending the project cost from ₹ 365.67 lakh to ₹ 700.00 lakh. 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) further amends the said notification number S.O. 180(E) dated the 10th March, 1997, to the following effect, namely:- In the said notification, in the Table against serial number 6, 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. 365.67 lakh the letters, figures and word Rs. 700.00 lakh shall be substituted. (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)