Exemption u/s 35AC - Central Government had specified regarding project at 10 villages of Tijara and Nimrana Blocks, Alwar, Rajasthan, by PHD Rural Development Foundation as an eligible project or scheme - 236/2003 - Income Tax

Exemption u/s 35AC - Central Government had specified regarding project at 10 villages of Tijara and Nimrana Blocks, Alwar, Rajasthan, by PHD Rural Development Foundation as an eligible project or scheme Income Tax Notification No. 236/2003 Dated 29 th September, 2003 Whereas by notification of the Government, of India in the Ministry of Finance (Department of Revenue) number S.0.399(E) dated the 6 th June, 1996, 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 13, for integrated Rural Development project at 10 villages of Tijara and Nimrana Blocks, Alwar, Rajasthan, by PHD Rural Development Foundation, PHD House, Opposite Asian Games Village, New Delhi - 110016, as an eligible project or scheme for a period of three years beginning with assessment year 1997-1998 which was extended further vide notification number S,0.370(E) dated the 10 th April, 2000 for a period of two years beginning with assessment year 2000-2001 and which was extended further vide notification number S.0.907(E) dated the 20 th September, 2001 for a period of two years beginning with assessment year 2002-2003; And whereas the said project or scheme is likely to extend beyond seven years; And whereas the National Committee, 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 two 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 specifies the scheme or project of Integrated Rural Development project at 10 villages of Tijara and Nimrana Blocks, Alwar, Rajasthan, which is being carried, out by PHD Rural Development Foundation, PHD House, Opposite Asian Games Village, New Delhi - 110016 at the estimated cost of rupees twenty five lakhs only, as an eligible project or scheme for a further period of two years commencing from the assessment year 2004-2005. Sd/- (A.J. Majumdar) Secretary (National Committee) F. No. NC-189/2003