Exemption u/s 35AC - of the ITA, 1961, the C.G. had specified for Integrated Rural Development through health and medical services of rural poor and tribals by SEWA-Rural (Society for Education, Welfare an Action-Rural)as an eligible project or scheme - 108/2006 - Income Tax

Exemption u/s 35AC - of the ITA, 1961, the C.G. had specified for Integrated Rural Development through health and medical services of rural poor and tribals by SEWA-Rural (Society for Education, Welfare an Action-Rural)as an eligible project or scheme NOTIFICATION NO. 108/2006, DATED 4-4-2006 S.O.508(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.288(E) dated the 17 th March, 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 6, for Integrated Rural Development through health and medical services of rural poor and tribals, vocational training to tribals and rural poor between age of 15 to 35 years for poverty alleviation, income generation activities for development of women, promotion of gramodyog (cottage industries) for poverty alleviation and help to rural poor for constructing low cost houses by SEWA-Rural (Society for Education, Welfare an Action-Rural), At Post Office Jhagadia, District Bharuch-393110, as an eligible project or scheme for a period of three years beginning with assessment year 1994-1995 which was extended further vide notification number S.O.403(E) dated the 6 th June, 1996 for a period of three years beginning with assessment years 1997-1998 which was extended further vide notification number S.O.748(E) dated the 10 th September, 1999 for a period of three years beginning with assessment year 2000-2001 and which was extended further vide notification number S.O.986(E) dated the 10 th September, 2002 for a period of three years beginning with assessment year 2003-2004; And whereas by notification number S.O.986(E) dated the 10 th September, 2002 the estimated cost was amended from ₹ 418.50 lakhs to ₹ 518.50 lakhs including a corpus fund of ₹ 100.00 lakhs; 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; 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 Integrated Rural Development through health and medical services of rural poor and tribals, vocational training to tribals and rural poor between age of 15 to 35 years for poverty alleviation, income generation activities for development of women, promotion of gramodyog (cottage industries) for poverty alleviation and help to rural poor for constructing low cost houses which is being carried out by SEWA-Rural (Society for Education, Welfare an Action-Rural), At Post Office Jhagadia, District Bharuch-393110, without any change in the approved estimated cost i.e. ₹ 518.50 lakhs including a corpus fund of ₹ 100.00 lakhs, as an eligible project or scheme for a further period of three years commencing from the financial year 2005-2006. [F.No. NC-270/55/2006]