Notification Under Section 35AC in respect of Friends of the Tribal Society, 19- Ganga Prasad Mukherjee Road, Kolkatta. - 64/2011 - Income Tax

NOTIFICATION NO. 64/2011 DATED 14-6-2011 S.O. 1384(E):- WHEREAS by Notification of the Government of India, in the Ministry of Finance (Department of Revenue) Number S.O.901(E), dated the 20th September, 2001, issued under sub-section (1) 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 13, for Literacy project of running 2890 One Teacher Schools (OTS) at 2890 tribal areas in 6 States, by Friends of the Tribal Society, 19- Ganga Prasad Mukherjee Road, Kolkatta-700025, as an eligible project or scheme for a period of three years beginning with assessment year 2002-03; which was extended further vide Notification Number S.O.797(E), dated the 5th July, 2004 for a period of three years beginning with financial year 2004-05 and which was extended further vide Notification Number S.O.478(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.478(E), dated the 29th March, 2007 the estimated cost was enhanced from Rs. 867 lakh to Rs. 1650 lakh; AND WHEREAS the said project or scheme is likely to extend beyond nine 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 amending the project cost from Rs. 1650 lakh to Rs. 5504.40 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 Literacy project of running 2890 One Teacher Schools (OTS) at 2890 tribal areas in 6 States, which is being carried out by Friends of the Tribal Society, 19- Ganga Prasad Mukherjee Road, Kolkatta-700025 as an eligible project or scheme for a further period of three years commencing from the financial year 2011-12 i.e. 2011-12, 2012-13 2013-14; and ( b ) further amends the said Notification Number S.O.901(E), dated the 20th September, 2001, to the following effect, namely :- In the said Notification, in the Table against serial Number 13, in column (4), relating to maximum cost to be allowed as deduction under section 35AC , for the letters, figures and word "Rs. 1650 lakh '' the letters, figures and word "Rs. 5504.04 lakh" shall be substituted. [F.NO. V-27015/2/2011-SO (NAT.COM)]