Exemption u/s 35AC - of the ITA, 1961, the C.G. had specified for Comprehensive Rural Development project for upliftment of the rural poor especially tribal by Seva Mandir as an eligible project or scheme - 026/2006- S.O. 157(E) - Income Tax

Exemption u/s 35AC - of the ITA, 1961, the C.G. had specified for Comprehensive Rural Development project for upliftment of the rural poor especially tribal by Seva Mandir as an eligible project or scheme NOTIFICATION NO. 26/2006, DATED 3-2-2006 S.O. 157(E) .- Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.333(E), dated the 28 th March, 2003, 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 Comprehensive Rural Development project for upliftment of the rural poor especially tribal by Seva Mandir, Old Fatehpur, Udaipur-313004 (Rajasthan), as an eligible project or scheme for a period of three years beginning with assessment year 2003-2004; 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 Comprehensive Rural Development project for upliftment of therural poor especially tribal which is being carried out by Seva Mandir, Old Fatehpur, Udaipur-313004 (Rajasthan), without any change in the approved estimated cost i.e. ₹ 500.00 lakhs including a corpus fund of ₹ 200.00 lakhs, as an eligible project or scheme for a further period of three years commencing from the financial year 2005-2006.