Exemption u/s 35AC of the Income tax act 1961, the central govt. had specified for "Construction, furnishing, equipments/materials and running of home for girls West Bengal" by Pranab Kanya Sangha as an eligible project or scheme - S.O. 1475(E) - Income Tax

Exemption u/s 35AC of the Income tax act 1961, the central govt. had specified for "Construction, furnishing, equipments/materials and running of home for girls West Bengal" by Pranab Kanya Sangha as an eligible project or scheme Notification No. S.O. 1475(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.180(E) dated the 10th March, 1997, 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 19, "Construction, furnishing, equipments/materials and running of home for girls, primary school vocational training centre and health clinic at Kora-Chandigarh, Madyamgra, Hridaypur, 24 Parganas, West Bengal" by Pranab Kanya Sangha, P.O. Haridaypur, Pin-743 204, District North, 24 Parganas, West Bengal, as an eligible project or scheme for a period of two years beginning with assessment year 1997-98, which was extended further vide notification number S.O.215(E) dated the 16th March, 1993 for a period of three years beginning with assessment year 1999-2000, which was extended further vide notification number S.O.910(E) dated the 20th September, 2001 for a period of three years beginning with assessment year 2002-03 and which was extended further vide notification number S.O.715(E) dated the 25th May, 2005 for a period of three years beginning with financial year 2004-05; And whereas the said project or scheme is likely to extend beyond eleven 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 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 notifies the scheme or project "Construction, furnishing, equipments/materials and running of home for girls, primary school vocational training centre and health clinic at Kora-Chandigarh, Madyamgra, Hridaypur, 24 Parganas, West Bengal" being carried out by Pranab Kanya Sangha, P.O. Haridaypur, Pin-743 204, District North, 24 Parganas, West Bengal, without any change in the approved cost of Rs. 44.67 lakh, as an eligible project or scheme for a further period of two years beginning with financial year 2007-08. However, since the financial year 2007-08 has already elapsed, the approval shall not be valid for financial year 2007-08 in respect of funds collected during this financial year and no certificate for exemption of donation under section 35AC(1) of the Income-tax Act, 1961 shall be issued.