Explanation to section 35AC - 'new courses for students of economically weaker section' by Sri Jayendra Saraswathy Vidyalaya Trust, 182, SIHS Colony Road, Singanallur, Coimbatore - 025/2007- S.O. 1502(E) - Income Tax

Explanation to section 35AC - 'new courses for students of economically weaker section' by Sri Jayendra Saraswathy Vidyalaya Trust, 182, SIHS Colony Road, Singanallur, Coimbatore [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II] GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) New Delhi, dated the 7th September, 2007 S.O. 1502(E).- Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O.1404(E) dated the 4th September, 2006, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 , the Central Government had specified at serial number 4, 'new courses for students of economically weaker section' by Sri Jayendra Saraswathy Vidyalaya Trust, 182, SIHS Colony Road, Singanallur, Coimbatore-641005, as an eligible project or scheme for a period of one year beginning with financial year 2006-2007; And whereas the said project or scheme is likely to extend beyond one year; 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 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 specifies the scheme or project 'new courses for students of economically weaker section' which is being carried out by Sri Jayendra Saraswathy Vidyalaya Trust, 182, SIHS Colony Road, Singanallur, Coimbatore-641005, without any change in the approved cost of ₹ 14.61 crores, as an eligible project or scheme for a further period of three years beginning with financial year 2007-2008. [No. 25/2007/F.No. NC-274/03/2007] Vijay Kumar, Director (National Committee)