Exemption for Financial assistance or support for medical, educational health and nutrition, poverty relief and employment generation for handicapped, women and girls' by Allana Foundation u/s 35AC of Income-tax Act, 1961 - SO 1301(E) - Income Tax

Exemption for Financial assistance or support for medical, educational health and nutrition, poverty relief and employment generation for handicapped, women and girls' by Allana Foundation u/s 35AC of Income-tax Act, 1961 Notification No. SO 1301(E) [F. No. NC-274/08/2008], dated 4-6-2008 Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number SO 1124(E), dated the September 29, 2003, 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 notified at serial number 9, 'Financial assistance or support for medical, educational health and nutrition, poverty relief and employment generation for handicapped, women and girls' by Allana Foundation - Project Naya Jeevan, Allana House, Allana Road, Colaba, Mumbai-400 001, as an eligible project or scheme for a period of three years beginning with assessment year 2004-05 and which was extended further vide notification number SO 1004(E), dated the July 5, 2006 for a period of two years beginning with financial year 2006-07; And whereas the said project or scheme is likely to extend beyond five 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 sub-rule (5) of rule 11M of the Income-tax Rules, 1962 for extending the said project or scheme for a further period of three years and amending the project cost from Rs. 400 lakh to Rs. 800 lakh; 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 notifies the scheme or project 'Financial assistance or support for medical, educational health and nutrition, poverty relief and employment generation for handicapped, women and girls', being carried out by Allana Foundation - Project Naya Jeevan, Allana House, Allana Road, Colaba, Mumbai - 400 001 for a period of three more years beginning with financial year 2008-09; and ( b ) further amends the said notification number SO 1124(E), dated the September 29, 2003, to the following effect, namely :— In the said notification, in the Table against serial number 9, in column (4), relating to maximum cost for which allowed, for the letters, figures and word 'Rs. 400 lakh' the letters, figures and word 'Rs. 800 lakh' shall be substituted.