Exemption u/s 35AC - specified at serial number 12 "Medical care to old persons Leprosy and cancer patients, provision of home to old persons rehabilitation of destitute old women, conducting eye camps" of Helpage India, Qutab Institutional Area, New Delhi, as an eligible project or scheme - 109/2009 - Income Tax

Exemption u/s 35AC - specified at serial number 12 "Medical care to old persons Leprosy and cancer patients, provision of home to old persons rehabilitation of destitute old women, conducting eye camps" of Helpage India , Qutab Institutional Area, New Delhi, as an eligible project or scheme MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi , the 14th October, 2009 S.O. 2616(E). - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O.602(E), dated the 12th August, 1993, issued under sub-section (1) of section 35AC of the Income-tax Act, 1961 , read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961) , the Central Government had specified at serial number 12 "Medical care to old persons Leprosy and cancer patients, provision of home to old persons rehabilitation of destitute old women, conducting eye camps" of Helpage India, Helpage India, C-14. Qutab Institutional Area, New Delhi-110016 as an eligible project or scheme for a period of two years beginning with assessment year 1993-94, which was extended further vide notification number S.O.405(E), dated the 3rd May, 1995 for a period of three years beginning with assessment year 1995-96, which was extended further vide notification number S.O.220(E), dated the 16th March, 1998 for a period of three years beginning with assessment year 1998-99, which was extended further vide notification number S.O.553(E), dated the 20th June, 2001 for a period of three year beginning with assessment year 2001 -02; which was further extended vide notification number S.O.82(E), dated the 24th January, 2005 for a period of three years beginning with financial year 2004-05 and which was further extended vide notification number S.O.482(E), dated the 29th March, 2007 for a period of three years beginning with financial year 2007-08; And whereas by notification number S.O.17(E), dated the 11 January, 1994 the estimated cost was enhanced from Rs. 1295.00 to Rs. 1295.00 lakh, vide notification number S.O.No.510(E), dated the 26th May, 2000 estimated cost was enhanced from Rs. 1295.00 lakh to Rs.2000.00 lakh, vide notification number S.O.1046(E), dated the 18th October, 2001 the estimated cost was enhanced from Rs.2000.00 lakh to Rs.4000.00 lakh, vide notification number S.O.82(E), dated the 24th January, 2005 the estimated cost was enhanced from Rs.4000.00 lakh to Rs.6500.00 lakh and vide notification number S.O.2199(E), dated the 12th December, 2007 the estimated cost was enhanced from Rs.6500.00 lakh to Rs.9500.00 lakh; And whereas the said project or scheme is likely to extend beyond seventeen 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.9500.00 lakh to Rs. 120.00 crore; Now, therefore, the Central Government, in exercise of the powers conferred by sub- section (1) of section 35 AC of the Income-tax Act, 1961 , read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 in respect of the scheme or project "Medical care to old persons Leprosy and cancer patients, provision of home to old persons rehabilitation of destitute old women, conducting eye camps" amends the said notification number S.O.602(E), dated the 12th August, 1993, to following effect, namely :- In the said notification, in the Table against serial number 12, in columns (4) relating to maximum amount of cost to be allowed as deduction under section 35AC , for the letters, figures and word "Rs. Ninety Five Crore", the letters, figures and word "Rs. 120.00 crores" shall be substituted. [No. 109/2009/F. No. V-27015/1/2009-SO(NAT.COM)] NAVEEN CHANDRA, Director (National Committee)