Exemption u/s 35AC - notified at serial number 2, "Running of PolioHospital, Rehabilitation and Research Centre by Narayan Seva Sansthan, "Seva Dham", Rajasthan, as an eligible project or scheme - 41/2009 - Income Tax

Exemption u/s 35AC - notified at serial number 2, Running of Polio Hospital , Rehabilitation and Research Centre by Narayan Seva Sansthan, Seva Dham , Rajasthan, as an eligible project or scheme NOTIFICATION New Delhi , the 25 th March, 2009 S.O. 840(E).- Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O.862(E) dated the 12th December, 1997, 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 2, Running of Polio Hospital, Rehabilitation and Research Centre at Hiran Magri, Sector-4, Udaipur, Rajasthan by Narayan Seva Sansthan, Seva Dham , 483, Hiran Magri, Sector-4, Udaipur, Rajasthan - 313002 as an eligible project or scheme for a period of three years beginning with assessment year 1998-1999, which was extended further wide notification number S.O. 508(E) dated the 29th May, 2000 for a period of three years beginning with assessment year 2001-2002, which was extended further vide notification number S.O.785(E) dated the 5th July, 2004 for a period of three years beginning with financial year 2003-2004, which was extended further vide notification number S.O.1013(E) dated the 5th July, 2006 for a period of three years beginning with financial year 2006-2007; And whereas by notification number S.O. 785(E) dated the 5th July, 2004 the estimated cost was enhanced from ₹ 2.91 crore plus a corpus fund of ₹ 2.00 crore to ₹ 10.00 crore plus a corpus fund of ₹ 2.00 crore and vide notification number S.O. 249(E) dated the 15th February, 2007 the estimated cost was further enhanced from ₹ 10.00 crore plus a corpus fund of ₹ 2.00 crore to ₹ 34,23,86,748.00 including a corpus fund of ₹ 2.00 crore; And whereas the said project or scheme is likely to extend beyond twelve years; And, whereas, the National Committee for the 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 and amending the project cost from ₹ 34,23,86,748.00 including a corpus fund of ₹ 2.00 crore to ₹ 64.28 crore including a corpus fund of ₹ 2.00 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 notifies the scheme or project 'Running of Polio Hospital, Rehabilitation and Research Centre at Hiran Magri, Sector-4, Udaipur, Rajasthan , being carried out by Narayan Seva Sanstha, Seva Dham , 483, Hiran Magri, Sector-4, Udaipur, Rajasthan-313002 for a period of three more years beginning with financial year 2009-2010 i.e. 2009-2010, 2010-2011 2011-2012. (b) further amends the said notification number S.O.862(E) dated the 12th December,1997, to the following effect, namely:- In the said notification, in the Table against serial number 2, in column (4), relating to maximum cost for which allowed, for the letters, figures and word ₹ 34,23,86,748,00 including a corpus fund of ₹ 2.00 crore the letters, figures and word ₹ 64.28 crore including a corpus fund of ₹ 2.00 crore shall be substituted. [No. 41/2009/F.No. NC-274/04/2009] NAVEEN CHANDRA. Director (National Committee)