The Central Government has specified various institution u/s 35AC of the Income-tax Act, 1961 - 367/2002 - Income Tax

The Central Government has specified various institution u/s 35AC of the Income-tax Act, 1961 NOTIFICATION NO. 367 Dated 9th December. 2002 In exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35 AC of the Income-tax Act, 1961 (43 of 1961), the Central Government on the recommendations of the National Committee, hereby approves the institutions mentioned in column (2) of the Table below and specifies the eligible projects or schemes and the estimated cost thereof as mentioned in column (3) of the said Table and also specifies in column (4) of the said Table, the maximum amount of such cost which may be allowed as deduction under the said section 35AC, namely:- TABLE Serial Number Name of the Institution Project or scheme and estimated cost thereof Maximum amount of cost to be allowed as deduction under section 35AC 1. Impact India Foundation, NHAVA House, 65, Maharshi Krave Road, Mumbai-400002. Disability Reduction Project Rs.590.00 lakhs for Assessment Years 2003-2004, 2004-2005 and 2005-2006 i.e. for three years only 2. Sitaram Seva Trust, at 2 Post Valia, District Bharuch (Gujarat). Valia General Hospital (Construction of 150 bedded hospital/ purchase of equipments/instruments and running expenses of the project) Rs.2500.00 lakhs (corpus fund) for Assessment Years 2003-2004, 2004-2005 and 2005-2006 i.e. for three years only 3. Sri Sathya Sai Central Trust, Prasanthi Nilayam, Anantapur District, Andhra Pradesh 515314. Drinking Water Scheme Rs. 10523.00 lakhs for Assessment Years 2003-2004 and 2004-2005, i.e. for two years only. 4. Sri Venkateswara Pranadana Trust, T.T, D. Administrative Building, K.T. Road, Tirupati-517051 (AP). Construction of extension building, purchase of equipments and running of Hospitals. Rs.7726. 00 lakhs for Assessment Years 2003-2004, 2004-2005 and 2005-2006 i.e. for three years only 2. This notification shall remain in force for a period of two years in relation to assessment years 2003-2004 and 2004-2005 in respect of project or scheme mentioned at serial number 3 and for a period of three years in relation to assessment years 2003-2004, 2004-2005 and 2005-2006 in respect of projects or schemes mentioned at serial number 1, 2 and 4 of the said Table. Sd/- (G.C. Srivastava) Secretary (National Committee) F.No. 138/2002