U/s. 35AC, IT ACT, 1961 - Eligible Projects or Schemes, Expenditure On - Sense International (India), Ahmedabad - S.O.1537(E) - Income Tax

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION No. 54/2016 New Delhi, the 26th April, 2016 S.O.1537(E) .-Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.1045(E) dated the 18th October, 2001 , 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 specified at serial number 5, for Comprehensive rehabilitation services for the deaf blind all over India by Sense International (India), 405, Favorite Residency, Opposite Saint Xavier s Loyola School, Memnagar, Ahmedabad-380015 , as an eligible project or scheme for a period of three years beginning with assessment years 2002-2003, which was extended further vide notification number S.O.397(E) dated the 23rd March, 2005 for a period of three years beginning with financial year 2004-2005, which was extended further vide notification number S.O. 1147(E) dated 16th July, 2007 for a period of three years beginning with the financial year 2007-08, which was extended further vide notification number S.O. No.1091 (E) dated 14th May, 2012 for a period of three years ending with financial year 2012-13 and which was extended further vide notification number S.O. No.3150 (E) dated 17th October, 2013 for a period of three years ending with financial year 2015-16; And whereas by notification number 3150 (E) dated 17th October, 2013 , the estimated cost was enhanced from ₹ 2.00 croreto ₹ 10.00 crore; And whereas the said project or scheme is likely to extend beyond fifteen 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 for Comprehensive rehabilitation services for the deaf blind all over India , which is being carried out by Sense International (India), 405, Favorite Residency, Opposite Saint Xavier s Loyola School, Memnagar, Ahmedabad- 380015 , as an eligible project or scheme for a further period of three years without any change in the approved cost of ₹ 10.00 crore commencing with the financial year 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)