Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 - Eligible projects or schemes, expenditure on - Udavum Karangal, Chennai - F.No.V-27015/1/2012-SO - Income Tax

Notification No.10/2012 F.No.V-27015/1/2012-SO dated 16/03/2012 Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 - Eligible projects or schemes, expenditure on - Udavum Karangal, Chennai S.O. 465(E)- Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O.1052(E), dated the 11th May, 2010 , 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 11, "Rehabilitation of orphans and destitute" by Udavum Karangal, No.460, N.S.K. Nagar, Arumbakkam, Chennai - 600 106, Tamilnadu, as an eligible project or scheme for a period of two years beginning with financial year 2010-11; And whereas the said project or scheme is likely to extend beyond two 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; 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 ), hereby notifies the scheme or project "Rehabilitation of orphans and destitute" which is being carried out by Udavum Karangal, No.460, N.S.K. Nagar, Arumbakkam, Chennai - 600106, Tamilnadu, without any change in the approved cost of Rs. 1197 lakh including Educational corpus fund Rs. 100 lakh, as an eligible project or scheme for a further period of three years commencing with the financial year 2012-13 i.e. 2012-13, 2013-14 and 2014-15.