Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Leprosy eradication, rehabilitation of leprosy affliated and their children and rural health at Rajendra nagar, Gujarat, by Sahyog Kushthayagna Trust - 044/2007- S.O. 245(E) - Income Tax

Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Leprosy eradication, rehabilitation of leprosy affliated and their children and rural health at Rajendra nagar, Gujarat, by Sahyog Kushthayagna Trust<!--ⱐƟ꣐Ǧ켌瘐趰ϵʰϵ--> NOTIFICATION NO. 44/2007, DATED 15-2-2007 S.O. 245(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), Number S.O.611 (E), dated the 23rd August, 1994, 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 1, for Leprosy eradication, rehabilitation of leprosy affliated and their children and rural health at Rajendranagar, Distt. Sabarkantha, Gujarat, by Sahyog Kushthayagna Trust, Rajendranagar Tal-Himalnagar, District Sabarkantha, Gujarat-383276 as an eligible project or scheme for a period of three years beginning with assessment year 1995-96 which was extended further vide notification Number S.O.211(E), dated the 17th March, 1997 for a period of three years beginning with assessment year 1998-99 which was extended further vide notification Number S.O.413(E), dated the 26th April, 2000 for a period of three years beginning with assessment year 2001-02 and which was extended further vide notification Number S.O.35l.(E) dated the 31st March, 2003 for a period of three years beginning with assessment year 2004-05; AND WHEREAS by notification Number S.O. 413(E), dated the 26th April, 2000 the estimated cost was enhanced from ₹ 90.7 lakhs to ₹ 1.30 crore plus a corpus fund of ₹ 1.70 crore; AND WHEREAS the said project or scheme is likely to extend beyond twelve 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 enhancing the project cost from ₹ 1.30 crore plus a corpus fund of ₹ 1.70 crore, to ₹ 2.60 crore plus a corpus fund of ₹ 2.70 crore; NOW, THEREFORE , the Central Government, in exercise of the powers conferred by subsection (1) read with clause ( b ) of the Explanation to section 35 AC of the Income-tax Act, 1961 (43 of 1961), hereby - (a) specifies the scheme or project for Leprosy eradication, rehabilitation of leprosy affliated and their children and rural health at Rajendranagar, Distt. Sabarkantha, Gujarat, which is being carried out by Sahyog Kushthayagna Trust, Rajendranagar Tal-Himalnagar, District Sabarkantha, Gujarat-383276, as-an eligible project or scheme for a further period of three years commencing from the financial year 2006-07; and (b) further amends the said notification Number S.O. 611(E), dated the 23rd August, 1994, to the following effect, namely :- In the said notification, in the Table against serial number 1, in column (4), relating to maximum amount of cost to be allowed asdeduction under section 35 AC, for the letters, figures and word, ₹ 1.30 crore plus a corpus fund of ₹ 1.70 crore , the letters, figures and word ₹ 2.60 crore plus a corpus fund of ₹ 2.70 crore shall-be substituted. [F. No. NC-274/04/2006]