Notification Under Section 35AC in respect of Dardiono Rahat Fund, 102, Kashi Parekh Complex, 29, Adarsh Society, Navrangpura, Ahmedabad. - 05/2011 - Income Tax

Notification Under Section 35AC in respect of Dardiono Rahat Fund, 102, Kashi Parekh Complex, 29, Adarsh Society, Navrangpura, Ahmedabad. NOTIFICATION New Delhi, the 27 th April. 2011 S.O. 866(E).- Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.399(E) dated the 6 th June, 1996, 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 11, Medical Relief Project al Ahmedabad by Dardiono Rahat Fund, 102, Kashi Parekh Complex, 29, Adarsh Society, Navrangpura, Ahmedabad - 380009, as an eligible project or scheme for a period of three years beginning with assessment year 1997-1998 which was extended further vide notification number S.O.312(E) dated the 11 th May, 1999 for a period years beginning with assessment year 2000-2001 which was extended further vide notification number S.O.608(E) dated the 7 th June, 2002 for a period of three years beginning with assessment year 2003-2004; which was extended further vide notification number S.O. 1601(E) dated the 14 th November, 2005 for a period of three years beginning with financial year 2005-2006 and which was extended further vide notification number S.O. 1317(E) dated the 4 th June, 2008 for a period of three years beginning with financial year 2008-09; And whereas by notification number S.O.312(E) dated the 11 th May, 1999 the estimated cost was enhanced from Rs.75.00 lakh to Rs.137.08 lakh and vide notification number S.O.510(E) dated the 19 th April, 2004 the estimated cost was further enhanced from Rs.137.08 lakh to Rs.157.08 lakh and vide notification number S.O. 1601(E) dated the 14 th November, 2005 the estimated cost was further enhanced from Rs.157.08 lakh to Rs.229.08 Iakh and vide notification number S.O.1317(E) dated 4 th June, 2008 the estimated cost was further enhanced from Rs. 229.08 lakh to Rs. 324.08 lakh; And whereas the said project or scheme is likely to extend beyond fifteen 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 extending the said project or scheme for a further period of three years and enhancing the project cost from Rs. 324.08 Iakh to Rs. 454.08 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 notifies the scheme or project Medical Relief Project at Ahmedabad , which is being carried out by Dardiono Rahat Fund, 102, Kasbi Parekh Complex, 29, Adarsh Society, Navrangpura, Ahmedabad 380009 as an eligible project or scheme for a further period of three financial year commencing with the financial year 2011-12, i.e. 2011-12, 2012-13,2013-14; (b) further amends the said notification number S.O.399 (E) dated the 6 th June, 1996, to the following effect namely :- In the said notification, in the Table against serial number 11, in column (4) relating to maximum amount of cost to be allowed as deduction under section 35 AC , for the letters, figures and word Rs324.08 lakh , the letters, figures and word Rs. 454.08 lakh be substituted. [No. 25/2011/F.No.V-27015/1/2011-SO (NAT.COM)] NAVEEN CHANDRA,Director (National Committee)