U/s. 35AC, IT ACT, 1961 - Eligible Projects or Schemes, Expenditure On - “Iskcon Food Relief Foundation, Mumbai - S.O.1526 (E) - Income Tax

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION No. 43/2016 New Delhi, the 26th April, 2016 S.O.1526 (E).- Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.1462 (E) dated 17th June, 2008 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, Mid-day Meal Project by the Iskcon Food Relief Foundation, Hare Krishna Land, Juhu, Mumbai 400 049 , as an eligible project at the estimated cost of ₹ 853.90 lakh crore for a period of two years ending with financial year 2009-10, which was further extended vide notification number S.O. 1788 (E) dated 21st July, 2010 for a period of three years ending with financial year 2012-13 and which was further extended vide notification number S.O. 3134 (E) dated 17th October, 2013 for a period of three years ending with financial year 2015-16; And whereas by notification number 3134 (E) dated 17th October, 2013 , the estimated cost was enhanced from ₹ 853.90 lakhto ₹ 2434.12 lakh; And whereas the said project or scheme is likely to extend beyond eight 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 specifying 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 Mid-day Meal Project which is being carried out by Iskcon Food Relief Foundation, Hare Krishna Land, Juhu, Mumbai 400 049 , without any change in the approved cost of ₹ 2434.12 lakh, as an eligible project or scheme for a further period of three years beginning with financial years 2016-17 i.e. 2016-17, 2017-18 and 2018-19; (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)