Exemption u/s 35AC - Central Government had notified "Welfare programmes in the field of Health, education, environment etc." by SNS Foundation, 1, Sri Aurobindo Marg, New Delhi, as an eligible project or scheme - 19/2009/S.O. 248(E) - Income Tax

Exemption u/s 35AC - Central Government had notified "Welfare programmes in the field of Health, education, environment etc." by SNS Foundation, 1, Sri Aurobindo Marg, New Delhi , as an eligible project or scheme. NOTIFICATION New Delhi , the 21st January, 2009 S.O. 248(E).- Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O.461(E) dated the 5th April, 2004, 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 8, "Welfare programmes in the field of Health, education, environment etc." by SNS Foundation, 1, Sri Aurobindo Marg, New Delhi -110016, as an eligible project or scheme for a period of three years beginning with financial year 2004-2005 and which was extended further vide notification number S.O. 491(E) dated the 29th March, 2007 for a period of three years beginning with financial year 2007-2008; And whereas by notification number 491(E) dated the 29th March, 2007 the estimated cost was enhanced from Rs. 810.00 lakh to Rs.1000.00 lakh; And whereas the said project or scheme is likely to extend beyond six 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 specifying the said project or scheme for enhancing the project cost from Rs. 1000.00 lakh to Rs. 16.50 crore; 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 "Welfare programmes in the field of Health, education, environment etc.", which is being carried out by SNS Foundation, I, Sri Aurobindo Marg, New Delhi-110016; (b) further amends the said notification number S.O. 461(E) dated the 5th April, 2004, to the following effect, namely:— In the said notification, in the Table against serial number 8, in column (4) relating to maximum amount of cost to be allowed as deduction under Section 35AC, for the letters, figures and words "Rs. 1000.00 lakh", the letters, figures and word "Rs.16.50 crore" shall be substituted. [No. 19/2009/F. No. NC-274/17/2008] NAVEEN CHANDRA, Director (National Committee)