Exemption u/s 35AC - Central Government had specified the (a) Slum Re-housing; (b) Rural Housing; (c) School building reconstruction ; and (d) Training and self-employment of handicapped poor (primarily blind) in rural and urban areas as eligible projects or schemes - S.O.178(E) - Income Tax

Exemption u/s 35AC - Central Government had specified the ( a ) Slum Re-housing; ( b ) Rural Housing; ( c ) School building reconstruction ; and ( d ) Training and self-employment of handicapped poor (primarily blind) in rural and urban areas as eligible projects or schemes NOTIFICATION NO. S.O.178 ( E ) DATED 9-3-1995 Whereas by Notification No. S.O. 578(E), dated 31st July, 1992, issued under 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 3, the ( a ) Slum Re-housing; ( b ) Rural Housing; ( c ) School building reconstruction ; and ( d ) Training and self-employment of handicapped poor (primarily blind) in rural and urban areas as eligible projects or schemes for a period of three assessment years commencing from the assessment year 1993-94 ; And whereas the said project or scheme is likely to extend beyond three years ; And whereas the National Committee has, being satisfied that the said projects or schemes are being executed properly, made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1962, for specifying the said projects or schemes for a further period of three years ; Now, therefore, the Central Government in exercise of the powers conferred by clause ( b ) of the Explanation to section 35AC of the Income-tax Act, 1961, hereby specifies the ( a ) slum re-housing in the slums of Rambagan, Calcutta, at an estimated cost of Rs. 50 lakhs ; ( b ) rural housing in 2,000 villages of the eleven districts of West Bengal at an estimated cost of Rs. 235 lakhs ; ( c ) school building reconstruction in eleven districts of West Bengal at an estimated cost of Rs. 30 lakhs, and ( d ) training and self-employment for handicapped poor (primarily blind) in rural and urban areas of Belur Math, West Bengal, at an estimated cost of Rs. 95 lakhs as eligible projects of schemes for a further period of three assessment years commencing from the assessment year 1996-97. [No. 9714/F.No. NC-155/94]