Exemption u/s 35AC - Central Government had specified for "Kanoli-vision Saver" Eye Camps - A rural out-reach programme on eye care at Villages around Chennai by Sri Sankara Health Centre as an eligible project or scheme - Amendment in N. No. S.O.180(E) dated the 10th March, 1997 - 111/2005- S.O. 400(E) - Income Tax

Exemption u/s 35AC - Central Government had specified for Kanoli-vision Saver Eye Camps - A rural out-reach programme on eye care at Villages around Chennai by Sri Sankara Health Centre as an eligible project or scheme - Amendment in N. No. S.O.180(E) dated the 10 th March, 1997 NOTIFICATION NO. 111/2005, DATED 23-3-2005 S.O. 400(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.180(E) dated the 10 th March, 1997, issued under sub-section (1) read with clause ( b ) of the Explanation to section 35 AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 11, for Kanoli-vision Saver Eye Camps - A rural out-reach programme on eye care at Villages around Chennai, Chengai, MGR District Tamil Nadu, by Sri Sankara Health Centre, Hospital Complex, Sri Sankara Nagar, Pammal, Chennai-600075, as an eligible project or scheme for a period of three years beginning with assessment year 1997-1998 which was extended further vide notification number S.O.161(E) dated the 23 rd February, 2000 for a period of three years beginning with assessment year 2000-2001 and which was extended further vide notification number S.O.859(E) dated the 14 th August, 2002 for a period of three years beginning with assessment year 2003-2004; And whereas by notification number S.O.859(E) dated 14 th August,2002, the estimated cost was enhanced from ₹ 45.00 lakhs to ₹ 90.00 lakhs; And whereas, the said project or scheme is likely to extend beyond nine 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 amending the project cost from ₹ 90.00 lakhs to ₹ 300.00 lakhs; 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),- ( a ) hereby specifies the scheme or project for Kanoli-vision Saver Eye Camps A rural out-reach programme on eye care at Villages around Chennai, Chengai, MGR District Tamil Nadu, which is being carried out by Sri Sankara Health Centre, Hospital Complex, Sri Sankara Nagar, Pammal, Chennai-600075 as an eligible project or scheme for a further period of three years commencing from the financial year 2004-2005; and ( b ) further amends the said notification number S.O.180(E) dated the 10 th March, 1997, to the following effect, namely:- In the said notification, in the Table against serial number 11, in column (4) relating to maximum amount of cost to be allowed as deduction under section 35 AC, for the letters, figures and word ₹ 90.00 lakhs, the letters, figures and word ₹ 300.00 lakhs shall be substituted. [F.No. NC-270/01/2005]