Exemption u/s 35AC of the Income tax act 1961, the central govt. had specified for "Housing facility for doctors, nurses and essential staff etc. for Kai Mohan Thuse Netra Rugnalaya at Maharashtra" by Kai Mohan Thuse Netra Rugnalaya, Narayangaon as an eligible project or scheme - S.O. 1468(E) - Income Tax

Exemption u/s 35AC of the Income tax act 1961, the central govt. had specified for "Housing facility for doctors, nurses and essential staff etc. for Kai Mohan Thuse Netra Rugnalaya at Maharashtra" by Kai Mohan Thuse Netra Rugnalaya, Narayangaon as an eligible project or scheme Notification No. S.O. 1468(E) [F.No. NC-274/09/2008] Dated 17-6-2008 Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 399(E) dated the 6th 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 notified at serial number 9, "Housing facility for doctors, nurses and essential staff and instruments, equipments and furniture etc. for Kai Mohan Thuse Netra Rugnalaya at Naryangaon, District Pune, Maharashtra" by Kai Mohan Thuse Netra Rugnalaya, Narayangaon, Tal. Junnar, District Pune-410 504, as an eligible project or scheme for a period of three years beginning with assessment year 1997-98, which was extended further vide notification number S.O. 873(E) dated the 21st September, 2000 for a period of two years beginning with assessment year 2000-01, which was extended further vide notification number S.O. 1255(E) dated the 30th October, 2003 for a period of three years beginning with assessment year 2003-04 and which was extended further vide notification number S.O. 505(E) dated the 4th April, 2006 for a period of three years beginning with financial year 2005-06; And whereas the said project or scheme is likely to extend beyond twelve 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 "Housing facility for doctors, nurses and essential staff and instruments, equipments and furniture etc. for Kai Mohan Thuse Netra Rugnalaya at Naryangaon, District Pune, Maharashtra" being carried out by Kai Mohan Thuse Netra Rugnalaya, Narayangaon, Tal. Junnar, District Pune-410 504, without any change in the approved cost of Rs. 79.60 lakh plus a corpus fund of Rs. 40.00 lakh, as an eligible project or scheme for a further period of three years beginning with financial year 2008-09.