Exemption u/s 35AC - Central Government had specified for construction of building for a rural hospital, furnishing, equipments and ambulance by Central Himalayan Rural Action Group (CHIRAG), New Delhi, as an eligible project or scheme - 11298 - Income Tax

Exemption u/s 35AC - Central Government had specified for construction of building for a rural hospital, furnishing, equipments and ambulance by Central Himalayan Rural Action Group (CHIRAG), New Delhi , as an eligible project or scheme NOTIFICATION NO. 11298 DATED 29-3-2000 Whereas by notification of the Government of India in the Ministry of Finance number S.O. 388(E) dated the 19th May, 1997 [published at (1997) 140 CTR (St) 1] issued under clause ( b ) to the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 14, construction of building for a rural hospital, furnishing, equipments and ambulance at Ramgarh Block, Kumaon, Nainital, Uttar Pradesh, by Central Himalayan Rural Action Group (CHIRAG), C-57, Friends Colony, New Delhi, as an eligible project or scheme for a period of three years beginning with assessment year 1998-99 ; And whereas the said project or scheme is likely to extend beyond three years ; And whereas the National Committee, 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 sub-section (1) read with clause ( b ) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction of building for a rural hospital, furnishing, equipments and ambulance at Ramgarh Block, Kumaon, Nainital, Uttar Pradesh, which is being carried out by Central Himalayan Rural Action Group (CHIRAG), C-57, Friends Colony, New Delhi, at the estimated cost of rupees one crore fifty-five lakhs plus a corpus fund of rupees seventy lakhs only as an eligible project or scheme for a further period of two years beginning with assessment year 2001-2002. [F. No. NC-5/2000]