Notification Under Section 35AC in respect of Sevasangh Sarvajanik Hospital Trust, Modasa-383315, District Sabarkantha, Gujarat - 90/2010 - Income Tax

NOTIFICATION New Delhi , the 30th December, 2010 S.O. 3065(E).- Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 458(E), dated the 30th March, 2006, 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 16, "Hospital Project" by Sevasangh Sarvajanik Hospital Trust, Modasa-383315, District Sabarkantha, Gujarat, as an eligible project or scheme for a period of three years beginning with financial year 2006-2007 and which was extended further vide notification number S.O, 2037(E), dated the 6th August, 2009 for a period of three years beginning with financial year 2009-2010. And whereas the National Commitee 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 1 crore including corpus fund of Rs. 50 lakh to Rs. 2 crore including corpus fund of Rs. 1 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 of1961) , hereby notifies the scheme or project "Hospital Project" being carried out by Sevasangh Sarvajanik Hospital Trust, Modasa-383315, District Sabarkantha, Gujarat, (b) further amends the said notification number S.O. 458(E), dated the 30th March, 2006, 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 l crore including corpus fund of Rs. 50 lakh", the letters, figures and ward "Rs. 2 crore including corpus fund of Rs. 1 crore" shall be substituted. [No. 90/2010/F. No. V-27015/4/2010-SO] NAVEEN CHANDRA, -Director (National Committee)