Amends notification no. S.O. 602(E), dated the 12th August, 1993 - Scheme or project carried out by Helpage India, C-14, Qutub Institutional Area, New Delhi-110 016 - S.O. 2119(E) - Income Tax

Amends notification no. S.O. 602(E), dated the 12th August, 1993 - Scheme or project carried out by Helpage India, C-14, Qutub Institutional Area, New Delhi-110 016 Notification NO. S.O. 2119(E), DATED 12-12-2007 Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O. 602(E) dated the 12th August, 1993, issued under sub-section (1) of section 35AC of the Income-tax Act, 1961, read with clause ( b ) of the Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified at serial number 12 "Medical care to old persons, leprosy and cancer patients, provision of home to old persons rehabilitation of destitute old women, conducting eye camps" of Helpage India, C-14, Qutab Institutional Area, New Delhi-110 016 as an eligible project or scheme for a period of two years beginning with assessment year 1994-95, and extended further vide notification number S.O. 405(E), dated the 3rd May, 1995 for a period of three years beginning with assessment year 1996-97, and extended further vide notification number S.O. 220(E), dated the 16th March, 1998 for a period of three years beginning with assessment year 1999-2000, notification number S.O. 553(E), dated the 20th June, 2001 for a period of three years beginning with assessment year 2002-03, notification number S.O. 82(E), dated the 24th January, 2005 for a period of three years beginning with financial year 2004-05 and notification number S.O. 482(E), dated the 29th March, 2007 for a period of further three years beginning with financial year 2007-08; And whereas by notification number S.O. 510(E) dated the 26th May, 2000 the estimated cost was enhanced from Rs. 1295 lakh to Rs. 2000 lakh, and further enhanced vide notification number S.O. 1046(E) dated the 18th October, 2001 from Rs. 2000 lakh to Rs. 4000 lakh, and vide notification number S.O. 82(E), dated the 24th January, 2005 from Rs. 4000 lakh to Rs. 6500 lakh; And whereas the said project or scheme is likely to extend beyond fourteen 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 enhancing the project cost from rupees Sixty five crore to rupees Ninety five crore; Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) of section 35AC of the Income-tax Act, 1961, read with clause ( b ) of the Explanation to section 35AC of the Income-tax Act, 1961 in respect of the scheme or project "Medical care to old persons, Leprosy and cancer patients, provision of home to old persons rehabilitation of destitute old women, conducting eye camps" being carried out by Helpage India, C-14, Qutub Institutional Area, New Delhi-110 016, amends the said notification number S.O. 602(E), dated the 12th August, 1993, to following effect, namely :— In the said notification, in the Table against serial number 12, in column (4) relating to maximum amount of cost to be allowed as deduction under section 35AC, for the letters, figures and word "Rs. Sixty five crore", the letters, figures and word "Rs. Ninety five crore" shall be substituted.