Section 35AC - Eligible projects or schemes, expenditure on - Eligible projects or schemes - "ANKUR" Special School for Mentally Retarded Children run by Bhavnagar - Amendment in Notification No. S.O. 1794(E), dated 23-10-2007 - S.O. No. 1793(E) - Income Tax

Section 35AC - Eligible projects or schemes, expenditure on - Eligible projects or schemes - ANKUR Special School for Mentally Retarded Children run by Bhavnagar - Amendment in Notification No. S.O. 1794(E), dated 23-10-2007 Notification No. 66/2010 Dated 21-7-2010 S.O. No. 1793(E).- Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 1794(E), dated 23rd October, 2007 , issued under 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 4, ANKUR Special School for Mentally Retarded Children run by Deceased Bhavsar Devchandbhai Muljibhai Talajiya Deceased Khamalaxmi Devchandbhai Talajiya, Plot No. 1945, Near Working Womens Hostel, Sardarnagar Circle, Bhavnagar - 364 002, as an eligible project or scheme for a period of three years beginning with financial year 2007-08; And whereas the said project or scheme is likely to extend beyond three 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 a further period of three years and enhancing the project cost from 120 lakh to 175 lakh including a corpus fund of 160 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 for ANKUR Special School for Mentally Retarded Children, which is being carried out by Deceased Bhavsar Devchandbhai Muljibhai Talajiya Deceased Khamalaxmi Devchandbhai Talajiya, Plot No. 1945, Near Working Womens Hostel, Sardarnagar Circle, Bhavnagar - 364 002, as an eligible project or scheme for a further period of three years commencing from the financial years 2010-11 .i.e 2010-11, 2011-12 2012-13; (b) further amends the said notification number S.O. 1794(E), dated the 23rd October, 2007 , to the following effect, namely :- In the said notification, in the Table against serial number 2, in column (4), relating to maximum amount of cost to be allowed as deduction under section 35AC , for the letters, figures and word 120 lakh , the letters, figures and word 175 lakh including a corpus fund of 160 lakh shall be substituted. [F. No V-27015/2/2010-SO]