Under Section 35AC, IT Act, 1961 - Eligible projects or schemes, expenditure on - "Welfare programmes in the field of Health, education, environment etc." by SNS Foundation, 1, Sri Aurobindo Marg, New Delhi - 127/2011 - Income Tax

Under Section 35AC, IT Act, 1961 - Eligible projects or schemes, expenditure on - "Welfare programmes in the field of Health, education, environment etc." by SNS Foundation, 1, Sri Aurobindo Marg, New Delhi Notification No. 127/2011 Dated 27-12-2011 S.O. 2888(E),- Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 461(E), dated the 5th April, 2004, 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 notified at serial number 8, "Welfare programmes in the field of Health, education, environment etc." by SNS Foundation, 1, Sri Aurobindo Marg, New Delhi - 110 016, as an eligible project or scheme for a period of three years beginning with financial year 2004-05, which was extended further vide notification number S.O.491(E), dated the 29th March, 2007 for a period of three years beginning with financial year 2007-08 and which was extended further vide notification number S.O. 657(E), dated 22nd March, 2010 for a period of three years beginning with financial year 2010-11; And whereas by notification number 491(E), dated the 29th March, 2007 the estimated cost was enhanced from Rs. 810.00 lakh to Rs. 1000.00 lakh. The project cost was further enhanced from Rs. 10 crore to Rs. 16.5 crore vide S.O. No. 248(E), dated the 21st January, 2009. 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 amending the project cost by Rs. 3.5 crore i.e., from Rs. 16.5 crore to Rs. 20 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 35 AC of the Income Tax Act, 1961 (43 of 1961), hereby notifies the scheme or project for running of "Welfare programmes in the field of Health, education, environment etc.", which is being carried out by SNS Foundation, 1, Sri Aurobindo Marg, New Delhi-110 016; (b) further amends the said notification number S.O.461(E), dated the 5th April, 2004, to the following effect, namely: In the said notification, in the Table against serial number 8, in column (4), relating to maximum amount of cost to be allowed as deduction under section 35AC of Income Tax Act, 1961 for the letters, figures and word "Rs. 16.5 crore" the letters, figures and word "Rs. 20 crore" shall be substituted. [F.No.V-27015/5/2011-SO (NAT.COM)]