Exemption u/s 35AC - notified at serial number 3, "Integrated Rural Development Project by Jankidevi Bajaj Gram Vikas Sanstha, C/o Samaj Seva Kendra, Survey No.4272, Behind Akurdi Post Office, Akurdi, Pune, as an eligible project or scheme - 097/2009 - Income Tax

Exemption u/s 35AC - notified at serial number 3, "Integrated Rural Development Project by Jankidevi Bajaj Gram Vikas Sanstha, C/o Samaj Seva Kendra, Survey No.4272, Behind Akurdi Post Office, Akurdi, Pune, as an eligible project or scheme MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi , the 14 th October, 2009 S.O. 2604(E). - Whereas by notification of the Government of India, in the Ministry of finance (Department of Revenue) number S.O.878(E) dated the 30th November, 1992, 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 3, "Integrated Rural Development Project by Jankidevi Bajaj Gram Vikas Sanstha, C/o Samaj Seva Kendra, Survey No.4272, Behind Akurdi Post Office, Akurdi, Pune - 411 035, as an eligible project or scheme for a period of three years beginning with assessment year 1993-1994, which was extended further vide notification number S.O.293(E) dated the 4th April, 1995 for a period of three years beginning with assessment year 1996-1997, which was extended further vide notification number S.O.438(E) dated the 20th May, 1998 for a period of three years beginning with assessment year 1999-2000, which was extended further vide notification number S.O.1384(E) dated the 30th December 2002 for a period of three years beginning with assessment year 2002-2003; which was extended further vide notification number S.O.789(E) dated the 5th July, 2004 for a period of three years beginning with financial year 2004-2005 and which was extended further vide notification number S.O.2400(E) dated the 3 rd October, 2008 for a period of two years beginning with financial year 2008-2009; And whereas by notification number S.O.438(E) dated the 20th May, 1998 the estimated cost was enhanced from Rs. 118.00 lakh to Rs. 180.72 lakh, vide notification number S.O.319(E) dated the 11th May, 1999 the estimated cost was further enhanced from Rs. 180.72 lakh to Rs. 298.60 lakh and vide notification number S.O.789(E) dated the 5th July, 2004 the estimated cost was further enhanced from Rs.298.60 lakh to Rs.704.14 lakh; And whereas the said project or scheme is likely to extend beyond eighteen 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-section (5) of rule 11 M of the Income-tax Rules, 1962 for specifying the said project or scheme for enhancing the project cost from Rs.704.14 lakh to Rs.821 .80 lakh; 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 "integrated Rural Development Project", which is being carried out by Jankidevi Bajaj Gram Vikas Sanstha, C/o Samaj Seva Kendra, Survey No.4272 Behind Akurdi Post Office, Akurdi, Pune-41l 035; (b) further amends the said notification number S.O.878(E) dated the 30th November, 1992, to the following effect, namely :- In the said notification, in the Table against serial number 3, in column (4) relating to maximum amount of cost to be allowed as deduction under section 35 AC for the letters, figures and word "Rs.704.14 lakh", the letters, figures and word "Rs.821.80 lakh" shall be substituted. [No. 97/2009/F. No. V-27015/1/2009-SO(NAT.COM)] NAVEEN CHANDRA, Director (National Committee)