Exemption u/s 35AC - Central Govt. specified various Institution as an eligible project or scheme - 114/2003- S.O. 523(E) - Income Tax

Exemption u/s 35AC - Central Govt. specified various Institution as an eligible project or scheme Notification No. 114 of 2003, dt. 9th May, 2003 S.O. 523(E) - 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), the Central Government on the recommendations of the National Committee, hereby approves the institutions mentioned in column (2) of the Table below and specifies the eligible projects or schemes and the estimated cost thereof as mentioned in column (3) of the said Table and also specifies in column (4) of the said Table, the maximum amount of such cost which may be allowed as deduction under the said section 35AC, namely : TABLE Sl. N Name of the Institution Project or scheme and estimated cost thereof Maximum amount of cost to be allowed as deduction under section 35AC (1) (2) (3) (4) 1. Shri Gayatri Vikas Mandal. Post Mandva, Taluk Ankleshwar. District Bharuh, Gujarat 393001 Construction of extension building for school, Administrative Building. Computer Centre, Gymnasium, Sangeet Kendra, Guest House, construction of road and running of Mobile Dispensary. ₹ 45.00 Lakhs for Assessment Years 2004-2005, 2005-2006 and 2006-2007 i.e. for three years only, 2 Guru Nanak Quin Centenary Memorial Hospital Trust, Plot No. - S-341, Gandhi Nagar, Bandra (East), Mumbai - 400051. Construction of extension building, purchase of equipments, furniture, repairs/renovation of the buildings and running of the proiect ₹ 547.92 lakhs including a corpus fund of ₹ 418.00 lakhs for Assessment Years 2004- 2005, 2005-2006 and 2006- 2007 I.e. for three years only. 3. Youth Movement for Village Development- YMVD No. 39-A, Poundakara Street. Ana-nthapuram 605 201, Villupuram District, Tamil Nadu. Computer training programme for weaker section of the society. ₹ 6.00 lakhs for Assessment Years 2004-2005. 2005-2006 and 2006-2007 i.e. for three years only. 4 Advance Transfusion Medicine Research Foundation, Prathama Blood Centre, B/H Jivraj Mehta Hospital, Lavanya Society, Vasna, Ahmedabad - 380007 Running of Advanced Transfusion Medicine Research Foundation. Prathama Blood Centre, Ahmedabad ₹ 800.00 lakhs (corpus fund) for Assessment Years 2004- 2005, 2005-2006 and 2006- 2007 i.e. for three years only. However, the approval would be subject to the condition that fifty per cent of supply of its products will be free of charge for the benefits of economically weaker sections of the society, that the company will maintain separate accounts for receipts and expenses under section 35AC including income out of corpus fund. that the company will not use corpus or income there from for acquisition of capital assets, for repayment of term loans or interest thereon and finally that transfer of shares in the company will be done only after prior approval by the committee. 5. Rashtrotthana Parishat, Keshava Shilpa, Kempegowada Nagar. Bangalore - 560019, Karnataka. Construction of school/hospital buildings, residential quarters. development of roads, swimming pool, stadium, interior decoration and furnishing and purchase of furniture ₹ 670.00 lakhs for Assessment Years 2004-2005. and 2005-2006 i.e. for two years only. 6. Smt. Uttaradevi Charitable and Research Foundation, 2, Wellesly Road, Konark House, Camp, Pune 411 001. (a) Construction of hospital building, purchase of furniture/fixtures, equipments, medicines and running of hospital (b) distribution of free food to poor and needy persons (c) free hospitalization and distribution of ₹ 970.74 lakhs for Assessment Years 2004-2005. 2005-2006 and 2006-2007 i.e. for three years only. 7. Uttan - Centre for sustainable development and poverty alleviation, 18-A, Auckland road, Civil Lines. Allahabad-211001. Construction of school building. Hostel, residential quarters. Purchase of furniture, books computers, laboratory equipments and running of the ₹ 1800.00 lakhs Including a corpus fund of ₹ 338.00 lakhs for Assessment Years 2004-2005 and 2005-2006 I.e. for two years only. 8. Football Club Kochin, Cochin - II (FC Kochin) Door No. 39/2306, Vennala. P.O. Kochi - 682028, Kerala. FC Kochin Football Academy to Indian Dream Team. ₹ 300.00 lakhs for Assessment Years 2004-2005, i.e. for one year only. 2. This notification shall remain in force for a period of one year in relation to assessment year 2004-2005 in respect of project or scheme mentioned at serial number 8 and for a period of two years in relation to assessment years 2004-2005 and 2005-2006 in respect of projects or schemes mentioned at serial numbers 5 and 7 for a period of three years in relation to assessment years 2004-2005, 2005-2006 and 2006-2007 in respect of projects or schemes mentioned at serial number 1,2,3,4 and 6 of the said Table. [F. No. NC-53-2003]