Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for an integrated project on Water and Natural Resources Management in Uttar Pradesh and West Bengal by Programme Support Unit Foundation - 105/2007 - Income Tax

Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for an integrated project on Water and Natural Resources Management in Uttar Pradesh and West Bengal by Programme Support Unit Foundation NOTIFICATION NO. 105/2007, DATED 29-3-2007 Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O. 81(E), dated the 24the October, 1997, 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 7, for an integrated project on Water and Natural Resources Management, improving livelihood quality of lives of the rural poor with reference to the forest and forest fringe dwellers in Uttar Pradesh and West Bengal by Programme Support Unit Foundation (PSU Foundation), 4-Rafi Ahmed Kidwai Marg, Cantonment, Lucknow-226002 as an eligible project or scheme for a period of three years beginning with financial years 2004-05; 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 specifying 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 specifies the scheme or project for an integrated project on Water and Natural Resources Management; improving livelihood quality of lives of the rural poor with reference to the forest and forest fringe dwellers in Uttar Pradesh and West Bengal which is being carried out by Programme Support Unit Foundation (PSU Foundation), 4-Rafi Ahmed Kidwai Marg, Cantonment, Lucknow-226002, without any change in the approved cost of Rs. 880.19 crores including a corpus fund of Rs. 45.62 crores, as an eligible project or scheme for a further period of three years commencing from the financial year 2007-08. [F.No.NC-274/3/2007]