Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified various institutions - SO 1295(E) - Income Tax

Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified various institutions Notification No. SO 1295(E) [F. No. NC-274/08/2008] dated 4-6-2008 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 for Promotion of Social and Economic Welfare, hereby notifies the institutions approved by the said National Committee, mentioned in column (2) of the Table below, and approves the eligible projects or schemes specified to be carried on by the said institutions and the estimated cost thereof as mentioned in column (3) of the said Table, and also specifies in the column (4) of the Table the maximum amount of such cost which may be allowed as deduction under the said section 35AC for the period of approval, namely :- TABLE Sl. No. 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. People s Institute for Development and Training, People s House, A-12 Paryavaran Complex, Saket - Maidangarhi Road, New Delhi - 110 030. Anandalaya Co-education School [Cost Rs. 5.70 crore (4.20 crore corpus fund + 1.50 crore)] Rs. 1.78 crore, Rs. 54 lakh for recurring expenses and Rs. 124 lakh for acquisition of assets needed for teaching and not for land and civil construction and building cumulatively for financial years 2008- 09 and 2009-10 2. Suvendu Memorial Trust, 69/12, Bidhubhusan Sengupta Road, Kolkata - 700 034. Childhood Blindness Project [Cost Rs. 68.31 lakh for Recurring expenses for 3 years and Rs. 1.23 crore for purchase of Instruments Equipments and for building] Rs. 191.31 lakh, Rs. 68.31 lakh for recurring expenses and Rs. 123 lakh for purchase of instruments equipments and for buildings cumulatively for financial years 2008- 09, 2009-10 and 2010- 11. 3. Gandhigram Trust, Gandhigram-624 302, Dindigul District, Tamilnadu Sustainability and building corpus fund for children s home/hospital/ educational Institution of Gandhigram Trust [Cost Rs. 50 lakh.] 2 [ Corpus Fund of Rs. 100.00 lakh ] cumulatively for financial years 2008-09, 2009- 10 and 2010-11. 4. The Kanaya Medical Mission Menathottam Hospital, Angadi P.O. Ranni, Pathanamthitta District, Kerala. Menathottam Hospital (to set up a centre to rehabilitate the physically handicapped.) (Cost Rs. 2.28 crore) Rs. 2.28 crore cumulatively for financial years 2008- 09, 2009-10 and 2010-11. II. This notification shall remain in force for a period of two years in relation to financial years 2008-09 and 2009-10 in respect of project or scheme mentioned at serial number 1 and for a period of three years in relation to financial years 2008-09, 2009-10 and 2010-11 in respect of projects or schemes mentioned at serial numbers 2, 3 and 4 of the said Table. ********* Notes 1. Substituted vide NOTIFICATION NO. 69/2011 DATED 14-6-2011 before it was read as Rs. 50 lakh 2. Substituted vide NOTIFICATION No. 280/2015 dated 17-12-2015 before it was read as 1 [ Rs. 100.00 lakh including a corpus fund of Rs. 50 lakh ]