Exemption u/s 35AC – Amendments in Notification no. SO 915(E), dated the August 27, 2002- projects of Dev Sanskriti Vishwa Vidayala and running of swavalammban, Health care and Education programmes at Shantikunj, Haridwar' by Shri Vedmata Gayatri Trust, Shantikunj, Haridwar - SO 1308(E) - Income Tax

Notification No. SO 1308(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 915(E), dated the August 27, 2002, issued under 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 1, 'Construction of building, Auditorium, Ayurvedic Clinic, School building, Administrative Block, Residential Quarters and purchase of equipments, furniture/fixture, books for Dev Sanskriti Vishwa Vidayala and running of swavalammban, Health care and Education programmes at Shantikunj, Haridwar' by Shri Vedmata Gayatri Trust, Shantikunj, Haridwar - 249 411 (Uttaranchal), as an eligible project or scheme for a period of three years beginning with assessment year 2003-04 and which was extended further vide notification number SO 710(E), dated the May 25, 2005 for a period of three years beginning with financial year 2005-06; 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 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; 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) , hereby notifies the scheme or project 'Construction of building, Auditorium, Ayurvedic Clinic, School building, Administrative Block, Residential Quarters and purchase of equipments, furniture/fixture, books for Dev Sanskriti Vishwa Vidayala and running of swavalammban, Health care and Education programmes at Shantikunj, Haridwar' being carried out by Shri Vedmata Gayatri Trust, Shantikunj, Haridwar - 249 411 (Uttaranchal), without any change in the approved cost of Rs. 4229 lakh including a corpus fund of Rs. 3000 lakh, as an eligible project or scheme for a further period of three years beginning with financial year 2008-09.