Exemption u/s 35AC - Central Government had notified Orphanage, Balika Ashrama, old age home, child-parents guidance centres' by Vatsalya Trust, C-2/32, Shree Vijay Kunj Society, Kanjur Marg (East), Mumbai - 400 042, as an eligible project or scheme - S.O. 2391(E) - Income Tax

Exemption u/s 35AC - Central Government had notified Orphanage, Balika Ashrama, old age home, child-parents guidance centres' by Vatsalya Trust, C-2/32, Shree Vijay Kunj Society, Kanjur Marg (East), Mumbai - 400 042, as an eligible project or scheme Notification No. 70/2008 [F. No. NC-274/13/2008] S.O. 2391(E) Dated 3-10-2008 Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 1586(E), dated the 11th November, 2005, issued under sub-section (1) read with 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 9, '( i ) Orphanage ( ii ) Balika Ashrama ( iii ) old age home ( iv ) child-parents guidance centres' by Vatsalya Trust, C-2/32, Shree Vijay Kunj Society, Kanjur Marg (East), Mumbai - 400 042, as an eligible project or scheme for a period of three years beginning with financial year 2005-06; And whereas the said project or scheme is likely to extend beyond three 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 extending the said project or scheme for a further period of three 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 notifies the scheme or project '( i ) Orphanage ( ii ) Balika Ashrama ( iii ) old age home ( iv ) child-parents guidance centres' being carried out by Vatsalya Trust, C-2/32, Shree Vijay Kunj Society, Kanjur Marg (East), Mumbai - 400 042, without any change in the approved cost of Rs. 1.92 crore, as an eligible project or scheme for a further period of three years beginning with financial year 2008-09.