Exemption u/s 35AC - Central Government had specified for running expenses for Mata Gujari Old Age Home-cum-orphanage at village Khanpur, Punjab, by Nishkam Sikh Welfare Council, New Delhi, as an eligible project or scheme - Amendment in N. No. S.O. 844(E), dated the 17th October, 1995 - S.O.924(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for running expenses for Mata Gujari Old Age Home-cum-orphanage at village Khanpur, Punjab, by Nishkam Sikh Welfare Council, New Delhi, as an eligible project or scheme - Amendment in N. No. S.O. 844(E), dated the 17th October, 1995 NOTIFICATION NO. S.O.924(E) DATED 20-9-2001 Whereas by notification of the Government of India in the Ministry of Finance No. S.O. 844(E), dated the 17th October, 1995, 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, for running expenses for Mata Gujari Old Age Home-cum-orphanage at village Khanpur, District Ropar, Punjab, by Nishkam Sikh Welfare Council, BF-33, Tagore Garden, New Delhi-110 027, as an eligible project or scheme for a period of two years beginning with the assessment year 1996-1997 which was extended further vide Notification No. S.O. 259(E), dated the 27th March, 1997, for a period of three years beginning with the assessment year 1998-1999; And whereas the said project or scheme is likely to extend beyond five 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 three years and amending the project cost from Rs. 27.36 lakhs to Rs. 99 lakhs; 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 specifies the scheme or project of running expenses for Mata Gujari Old Age Home-cum-orphanage at village Khanpur, District Ropar, Punjab, which is being carried out by Nishkam Sikh Welfare Council, BF-33, Tagore Garden, New Delhi-110 027, as an eligible project or scheme for a further period of three years beginning with the assessment year 2001-2002; and ( b ) further amends the said Notification No. S.O. 844(E), dated the 17th October, 1995, to the following effect, namely: In the said notification, in the Table against serial number 14, in column (4) relating to maximum cost for which allowed, for the letters, figures and word "Rs. 27.36 lakhs", the letters, figures and word "Rs. 99 lakhs" shall be substituted. [No. 295-2001-F. No. N.C-83-2001]