Exemption u/s 35AC - Central Govt had specified for development of land and construction of 5000 houses- "Amrita Kuteeram" all over India, by Mata Amritanandamayi Charitable Trust as an eligible project or scheme - Amendment in N. No. S.O.698(E) dated the 3rd October, 1997 - 269/2003- 1257(E) - Income Tax

Exemption u/s 35AC - Central Govt had specified for development of land and construction of 5000 houses- Amrita Kuteeram all over India, by Mata Amritanandamayi Charitable Trust as an eligible project or scheme - Amendment in N. No. S.O.698(E) dated the 3rd October, 1997 Notification No : 269 Date of Issue : 30/10/2003 S.O.1257(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.698(E) dated the 3rd 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 1, for development of land and construction of 5000 houses- Amrita Kuteeram all over India, by Mata Amritanandamayi Charitable Trust, Amritapuri Post Office, Kollam-District, Kerala-690525, as an eligible project or scheme for a period of three years beginning with assessment year 1998-99, and which was extended further vide notification number S.O. 874 (E) dated 21st September, 2000 for a period of three years beginning with assessment year 2001-2002 And whereas the said project or scheme is likely to extend beyond six years; And, whereas, the National Committee for the Promotion of Social and Economic Welfare, being satisfied that the said project or scheme is being executed properly, made a further recommendation under subrule (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 enhancing the approved cost from ₹ 1400.00 lakhs to ₹ 7400.00 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 of development of land and construction of 5000 houses- Amrita Kuteeram all over India by Mata Amritanandamayi Charitable Trust, Amritapuri Post Office, Kollam District, Kerala-690525, as an eligible project or scheme for a further period of three years beginning with assessment year 2004-2005; and (b) further amends the said notification number S.O. 698(E) dated the 3rd October, 1997, to the following effect, namely:- In the said notification, in the Table against serial number 1, in column (4) relating to maximum amount of cost to be allowed as deduction under section 35AC, for ₹ 1400.00 lakhs , to ₹ 7400.00 lakhs shall be substituted. Sd/- (A.J. Majumdar) Secretary (National Committee)