Exemption u/s 35AC - of the Income-tax Act, 1961, the Central Government had specified for Construction of building/purchase of equipments, running of Sant Ranchhoddasji Bapu Eye Hospital at Vansda, District Valsad, Gujarat by Dhanvantri Trust - 007/2007 [F.No.NC-274/03/2007]- SO. 1151(E) - Income Tax

Exemption u/s 35AC - of the Income-tax Act, 1961, the Central Government had specified for Construction of building/purchase of equipments, running of Sant Ranchhoddasji Bapu Eye Hospital at Vansda, District Valsad, Gujarat by Dhanvantri Trust Notification No. 7/2007 [F.No.NC-274/03/2007], Dated 16-7-2007 SO. 1151(E)- Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 10(E) dated the 4th January, 2000, 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 4, for Construction of building/purchase of equipments, instruments, vehicle and running of Sant Ranchhoddasji Bapu Eye Hospital at Vansda, District Valsad, Gujarat by Dhanvantri Trust, Shanker Falia, Vansda, District Navsari-396580, Gujarat as an eligible project or scheme for a period of three years beginning with assessment year 2000-01 and which was extended further vide notification number S.O. 511(E) dated the 19th April, 2004 for a period of three years beginning with financial year 2003-04; And whereas the said project or scheme is likely to extend beyond six 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 enhancing the project cost from ₹ 210.00 lakhs to ₹ 218.00 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 construction of building/purchase of equipments, instruments, vehicle and running of Sant Ranchhoddasji Bapu Eye Hospital at Vansda, District Valsad, Gujarat, which is being carried out by Dhanvantri Trust, Shanker Falia, Vansda, District Navsari-396580, Gujarat as an eligible project or scheme for a further period of three years beginning with financial year 2006-07; and ( b ) further amends the said notification number S.O.10(E) dated the 4th January, 2000, to the following effect, namely :- In the said notification, in the Table against serial number 4, in column (4), relating to maximum amount of cost to be allowed as deduction under section 35AC, for the letters, figures and words ₹ 210.00 lakhs , the letters, figures and word ₹ 218.00 lakhs without any corpus fund shall be substituted.