Exemption u/s 35AC - Central Government had specified the construction of fully equipped hospital named as Ramco Appollo Diagnostic Centre at Rajapalayam, Kamaraj District, Tamil Nadu as an eligible project of scheme - S.O.180(E) - Income Tax

Exemption u/s 35AC - Central Government had specified the construction of fully equipped hospital named as Ramco Appollo Diagnostic Centre at Rajapalayam, Kamaraj District, Tamil Nadu as an eligible project of scheme NOTIFICATION NO. S.O.180 ( E ) DATED 9-3-1995 Whereas by Notification No. S.O. 267(E), dated 29th March, 1994, 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 14, the construction of fully equipped hospital named as Ramco Appollo Diagnostic Centre at Rajapalayam, Kamaraj District, Tamil Nadu of P.A.C. Ramasamy Raja Centenary Trust, "Rama Mandiram", Tenkasi Road, Rajapalayam, Kamaraj District, Tamil Nadu, as an eligible project of scheme for a period of two assessment years commencing from the assessment year 1993-94 ; And whereas the said project or scheme is likely to extend beyond two years ; And whereas the National Committee has, 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 two 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 construction of fully equipped hospital named as Ramco Appollo Diagnostic Centre at Rajapalayam, Kamaraj District, Tamil Nadu of P.A.C. Ramasamy Raja Centenary Trust, "Rama Mandiram", Tenkasi Road, Rajapalayam, Kamaraj District, Tamil Nadu, at the estimated cost of Rs. 386 lakhs as an eligible project or scheme for a further period of two assessment years commencing from the assessment year 1996-97 on the following conditions, namely :--- ( a ) ( i ) 40 per cent. of common clinical tests are provided free and 25 per cent. at concessional rate ; ( ii ) 25 per cent. X-Rays and E.C.G. tests are provided free and 25 per cent. at a concessional rate ; and ( iii ) 25 per cent. other routine tests free and 25 per cent. at concessional rate ; ( b ) ( i ) free treatment is given to those patients whose family income does not exceed Rs. 10,000 ; and ( ii ) 25 per cent. to 35 per cent. concession is given to patients with annual family income between Rs. 10,000 to Rs. 15,000. [No. 9716/F. No. NC-155/94]