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

Notification No.23/2012 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 - Janaseva Foundation, Pune S.O. 478(E)- Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 121(E) dated 12th January, 2009 , 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 17, "Construction running of (i) rural hub for senior citizens from small villages, (ii) Renovation/extension of old age home and (iii) extension of the existing rural hospital for ophthalmic care" by Janaseva Foundation, Indulal Complex, Above Rupee Co-op. Bank, Navi Peth, L.B.S. Road, Pune - 411030, as an eligible project or scheme for a period of three years beginning with financial year 2008-09; And whereas the said project or scheme is likely to extend beyond three 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 "Construction running of (i) rural hub for senior citizens from small villages, (ii) Renovation/extension of old age home and (iii) extension of the existing rural hospital for ophthalmic care" which is being carried out by Janaseva Foundation, Indulal Complex, Above Rupee Co-op. Bank, Navi Peth, L.B.S. Road, Pune - 411030, without any change in the approved cost of Rs. 2.00 crore, as an eligible project or scheme for a further period of three years commencing with the financial year 2011-12 i.e. 2011-12, 2012-13 2013-14.