U/s. 35AC, IT ACT, 1961 - Eligible Projects or Schemes, Expenditure On - Amar Jyoti Charitable Trust, Greater Kailash-I, New Delhi - S.O.1538 (E) - Income Tax

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION No. 55 /2016 New Delhi, the 26th April, 2016 S.O.1538 (E).- Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 901(E) dated 20th September, 2001 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 3 Construction of Building, Purchase of Library Books, Office and Sports equipment, Mobile aids and appliances, learning materials, furnishing and running of activities for rehabilitation of persons with disability through integrated education, vocational training, medical care and employment opportunities by Amar Jyoti Charitable Trust, N-192, Greater Kailash-I, New Delhi 110048 , as an eligible project at the estimated cost of ₹ 225.84 Lakh for a period of three years ending with financial year 2003-04; which was further extended vide notification number S.O. 389(E) dated 23rd March, 2005 for a period of three years ending with financial year 2006-07, which was further extended vide notification number S.O. 1800(E) dated 23rd October, 2007 for a period of three years ending with financial year 2009-10, which was further extended vide notification number S.O.2525(E) dated 11th October, 2010 for a period of three years ending with financial year 2012-13 and which was further extended vide notification number S.O.3121(E) dated 17th October, 2013 for a period of three years ending with financial year 2015-16; And whereas by notification number S.O. 2890(E) dated 27th December, 2011 , the project cost was enhanced from ₹ 225.84 lakh to ₹ 1550.00 lakh; And whereas the said project or scheme is likely to extend beyond 15 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 Construction of Building, Purchase of Library Books, Office and Sports equipment, Mobile aids and appliances, learning materials, furnishing and running of activities for rehabilitation of persons with disability through integrated education, vocational training, medical care and employment opportunities which is being carried out by Amar Jyoti Charitable Trust, N-192, Greater Kailash-I, New Delhi 110048 , without any change in the approved cost of ₹ 1550.00 lakh, as an eligible project or scheme, for a further period of three years commencing with 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)